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LOAN AND TRUST 
CORPORATIONS 




— 
Ill 



> 



LOAN AND TRUST CORPORATIONS 1 

STATEMENTS 

/ BEING 

ABSTRACTS FROM FINANCIAL STATEMENTS 

MADE BY 

LOAN CORPORATIONS AND TRUST COMPANIES \ 
FOR THE YEAR ENDED DECEMBER 31, 1952 



PRINTED BY ORDER OF 
THE LEGISLATIVE ASSEMBLY OF ONTARIO 




ONTARIO 



TORONTO 



Printed and Published by Baptist Johnston 
Printer to the Queen's Most Excellent Majesty 

1953 



NOTE 



Section 128 of The Loan and Trust Corporations Act (Revised 
Statutes of Ontario, 1950, Chapter 214) provides as follows: — 

128. — (1) No corporation shall, under the penalty of becoming 
disentitled to registry or of having its registry suspended or cancelled, 
make, print, publish, circulate, authorize, or be a party or privy to 
the making, printing, publishing, or circulating of any statement or 
representation that its solvency or financial standing is vouched for 
by the Registrar or that the publication of its statement in his report 
is a warranty of representation of the solvency of the corporation, or 
of the truth or accuracy of the statement in any particular. 



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ONTARIO 

DEPARTMENT OF INSURANCE 



To The Honourable Dana H. Porter, Q.C. 

Minister in Charge of the Department of Insurance: 

Sir: 

I have the honour to submit extracts from the loan and trust corporations' 
annual statements as at December 31st, 1952, showing assets, liabilities, revenue 
accounts, profit and loss accounts and mortgage summaries. These figures will 
be embodied in my detailed Annual Report, which will be published upon com- 
pletion of the annual examination of the corporations' records. 

Except for such changes as have been found necessary by preliminary office 
audit, the figures following are taken directly from the corporations' annual 
statements. A list of registered corporations snowing the location of their chief 
offices in Ontario, the names of their principal officers and their date of incor- 
poration will be found on pages 42 to 45. 

I have the following registry changes to report: — 

4 'Ottawa Valley Trust Company" 

"The Toronto General Trusts Corporation" 

By an agreement between these companies dated the 3rd of April 1952, the 
assets and liabilities of the Ottawa Valley Trust Company were taken over and 
assumed by The Toronto General Trusts Corporation. The agreement was ap- 
proved by Order-in-Council dated June 19th, 1952. 

The Provident Investment Company is no longer a Loaning Land Corpora- 
tion within the meaning of The Loan and Trust Corporations Act having re- 
linquished certain of its powers by By-law confirmed by Order-in-Council dated 
July 24th, 1952. The Company terminated its Registry on June 30th, 1952. 

There being no other Loaning Land Corporations, the section of my Report 
dealing with such Corporations is therefore omitted. 

REVIEW OF 1952 BUSINESS 

The Statistical Tables following this report have been used in the prepara- 
tion of this review. 

Loan Corporations 

Total assets of loan corporations amount to $295,755,000 in 1952, which is 
an increase of $11.5 million over 1951. 

As in past years, there has been a redistribution among the various assets, 
and the notable change is reflected in mortgage investments which increased by 
$12.3 million to a total of $219,957,000 which is 73.7% of total assets compared 
to 72.4% in 1951 and 50.88% in 1946. 

[in] 



Total bonds held by Loan Corporations increased by $1,110,000 to a total of 
$45,472,000 due to an increase of $997,000 in municipal bonds and $1,479,000 in 
industrial bonds. Government of Canada bonds decreased by $1,283,000 to a 
total of $36,353,000 and now represent 12.3% of total assets as compared with 
13.2% in 1951 and 28.7% in 1946. 

The growth in total assets results chiefly from an increase of $7 million in 
debentures payable in Canada and $4.5 million in deposits. 

The following table shows the public liability for the years 1938 to 1952 and 
it is noteworthy that deposits are now nearly three times what they were 12 
years ago. 







Debentures Payable 


Year 


Deposits 










In Canada 


Out of Canada 


1938 


833,589.000 


S74.850.000 


$27,184,000 


1942 


33,439,000 


74.222,000 


20,033.000 


1943 


37.381,000 


74,737,000 


17,872,000 


1944 


44,384,000 


73,391,000 


15.856,000 


1945 


50,257,000 


73,906,000 


14,898,000 


1946 


62,175,000 


79,141,000 


14,195.000 


1947 


69,153,000 


83,536,000 


13,373,000 


1948. 


76,029,000 


82,194,000 


11,746,000 


1949 


82,653.000 


87,844,000 


10.389.000 


1950 


90,042,000 


107,703.000 


9.017,000 


1951 


86,905.000 


123,801,000 


7,874.000 


1952 


91,384.000 


130,789,000 


7.131.000 



Trust Companies 

Exclusive of amounts held for estates, trusts and agencies, combined Com- 
pany and Guaranteed Fund assets held by trust companies increased in 1952 by 
$19,481,000 to a total of $431,746,000. Company Funds assets decreased by 
$265,000 to a total of $76,697,000 and Guaranteed Funds assets now stand at 
$355,049,000— an increase of $19,745,000 over 1951. 

Assets of both Company and Guaranteed Funds are principally invested as 
follows: 





(000 Omitted) 






% 




% 




% 




1952 


To Total 


1951 


To Total 


1946 


To Total 




Amount 


Assets 


Amount 


Assets 


Amount 


Assets 


Total Assets 


$431,746 


100 


$412,266 


100 


$268,401 


100 


Mortgages 


126.233 


29 2 


117,925 


28.6 


62,536 


23.3 


All Bonds 


227.599 


52.7 


226,982 


55 


155,250 


57.8 


Stocks 


15,728 


3.6 


14,869 


3.6 


14.575 


5.4 



These increased assets are the result of steady growth in funds made available 
to these companies through trust deposits, which now stand at $174,328,000, an 
increase in 1952 of $14,436,000, and Guaranteed Receipts totalling $180,081,000 
an increase of $5,256,000; for a total increase over 1951 of $19,792,000. 

The following table of guaranteed investment funds received from the public 
since 1938 shows the upward trend. 



[iv] 



Year 


Deposits 


Guaranteed 
Receipts 


Total 


1938 


$56,488,000 


$87,367,000 


$143,855,000 


1942 


55,033,000 


80,468,000 


135.501,000 


1943 


59,505,000 


84,056,000 


143,561,000 


1944 


69.485.000 


89,524,000 


159,009,000 


1945 


81,968,000 


94,080,000 


176.048,000 


1946 


99,301.000 


105,074,000 


204,375,000 


1947 


112,395,000 


112,379,000 


224,774,000 


1948 


128.142,000 


123,426,000 


251,568,000 


1949 


135,387,000 


147,299,000 


282,686,000 


1950 


152,749,000 


166.660.000 


319,409,000 


1951 


159,892,000 


174,725,000 


334,617.000 


1952 


174,328,000 


180,081,000 


354,409,000 



Trust Companies having Guaranteed Funds have invested $321,795,000 in 
Trustee Investments which is 90.8% of such funds. 

Public Liability — Loan and Trust Companies Combined 

The combined public liability of loan and trust companies increased in 1952 
by $30.5 million to a total of $583,714,000. In 1945 the total liability was $315 
million; in 1938, $279 million, and in 1924 $168 million. This liability consists 
of debentures payable by loan corporations, guaranteed investment receipts 
issued by trust companies, and deposits held by both loan and trust companies. 

Total deposits held by both loan and trust companies increased by $19 
million in 1952 to a total of $266 million. This is more than twice the total for 
1945 which was $132 million. While new registrations will account for some of 
the increase, there has been a substantial, constant growth over the years. The 
following table shows the trend since 1924: 

1952 $266 million 1945 $132 million 

1951 247 million 1944 113 million 

1948 204 million 1934 76 million 

1946 161 million 1924 39 million 

Estates, Trusts and Agency Funds 

Total assets under administration by all trust companies have increased in 
1952 by $138.5 million to a total of $3,732 million, as compared with $2,439 
million in 1940 and $1,867 million in 1930. 

Real Estate Held for Sale 

This asset is slightly higher than in 1951 and now stands at $1,846,000, of 
which amount $1,792,000 is held by loan corporations. In 1940 loan and trust 
corporations held $21,000,000. in this asset. 

Mortgage Loans 

Total mortgage loans of both loan and trust companies are carried at a bal- 
ance sheet figure of $344,091,000 —which is $20,557,000 more than the corre- 
sponding 1951 figure of $323,534,000. Higher interest rates and continued activity 
in homebuilding are both contributing to the steady increase in mortgage loans, 
which in 1945 amounted to $166 million. Loan companies accounted for 
$12,349,000 of the 1952 increase, while trust companies increased their mortgage 
loans by $8,208,000. 

[v] 



At the end of this report will be found a summary of mortgages showing a 
segregation of farm and urban loans by provinces, based on gross book value 
before the deduction of special reserves for balance sheet purposes. The total 
value of mortgages shown in this summary is $348,183,000, which is about $4 
million greater than the amount carried on the companies' balance sheets. The 
following table shows the trend of mortgages at gross book values for the years 
1940 to 1952 inclusive, divided between Western and Eastern holdings. 





WESTERN 




EASTERN 


Year 




Interest 






Interest 




Principal 


Charged and 




Principal 


Charged and 






Past Due 






Past Due 


1940 


$75,072,000 


$5,353,000 




$149,103,000 


$1,581,000 


1941 


72,086,000 


5,015,000 




146,014,000 


1,222,000 


1942 


68,680,000 


5,088,000 




140,175,000 


856,000 


1943 


61,102,000 


3,891,000 




132,970,000 


615,000 


1944 


49,155,000 


1,633,000 




128,891.000 


324,000 


1945 


42,837,000 


869,000 




129.980,000 


89,000 


1946 


41,804,000 


719,000 




141,922,000 


76,000 


1947 


41,847,000 


445,000 




156,215,000 


56.000 


1948 


43,645,000 


432,000 




178,301,000 


38,000 


1949 


47,947,000 


531.000 




204,486,000 


207,000 


1950. 


54,050,000 


665,000 




245,055,000 


296,000 


1951 


62,138,000 


630,000 




266,224,000 


322,000 


1952 


64,702,000 


444,000 




283,481,000 


364,000 



Interest charged and past due on western mortgages continues to show a 
steady decrease and now represents less than 1% of such mortgages. On eastern 
mortgages such interest is negligible representing little more than .1% of prin- 
cipal. 

A segregation between farm and urban mortgage principal owing for certain 
years since 1942 is shown below: 



Western 

Farm 

Urban 

Totals 

Eastern 

Farm 

Urban 

Totals 

Totals Farm 

Totals Urban 



(000 Omitted) 



1952 


1951 


1948 


1945 


1942 


$ 9,468 
55,234 


$ 12,102 
50,036 


$ 12.923 
30,722 


$ 25,113 
17.724 


$ 49,140 
19,540 


$ 64,702 


$ 62,138 


$ 43,645 


$ 42,837 


$ 68,680 


$ 11,482 
271.999 


$ 11,080 
255,144 


$ 9,996 
168,305 


$ 7,786 
122,194 


$ 8,632 
131,543 


$283,481 


$266,224 


$178,301 


$129,980 


$140,175 


$ 20,950 
327,233 


$ 23,182 
305,180 


$ 22,919 
199,027 


$ 32,899 
139,918 


$ 57,772 
151,083 


$348,183 


$328,362 


$221,946 


$172,817 


$208,855 



During the war years from 1942 to 1945 total mortgages showed a reduction 
of $36 million of which $26 million occurred in western mortgages representing 



[vi] 



a decrease of 38%. Since 1945 western farm mortgages have continued to de- 
crease while urban mortgages in the western provinces have shown a substantial 
growth. The large increase in mortgage investments has mainly been in eastern 
urban mortgages which have more than doubled from $122 million in 1945 to 
$272 million in 1952. 

Bonds and Debentures 

The following table shows the trend of bonds and debentures held by loan 
and trust companies for the period 1942-1952. 





(000 Omitted) 


1952 


1951 


1948 


1945 


1942 


Govt, of Canada 

Provincial 

Municipal 

Other 


S160.099 
45.536 
29.956 
37,480 


$170,851 
42,826 
26,225 
31,445 


S179.992 
30,115 
17,941 
28,407 


$156,974 
20.927 
10,897 
13,572 


$ 51,989 
23.134 
11,187 
17,522 


$273,071 


$271,347 


$256,455 


$202,370 


$103,832 



While there is an overall increase during 1952 of $1,724,000 in total holdings, 
there is an apparent trend on the part of both loan and trust companies to re- 
duce their holdings of Government of Canada Bonds in favor of the higher 
yields of Bonds of the Provinces, Municipalities and other Corporations, there 
being in 1952, an increase of $12,475,000 in these Bonds, divided about equally 
between Corporation on the one hand, and Provincial and Municipal issues on 
the other. In the same period, investment in Government of Canada Bonds fell 
off by $10,752,000, of which amount trust companies' reduction accounted for 
$9,468,000 to the loan companies' $1,283,000. 

Government of Canada bonds now represent 22% of total assets of loan and 
trust corporations compared to 24.5% in 1951, 37.04% in 1946, 10.47% in 1941. 
Total bonds represent 37.5% of total assets as compared with 39% in 1951, 
41.2% in 1950, 47% in 1946 and 24% in 1941. 

Stocks 

The total holdings of stocks by loan and trust companies show an increase 
of $940,000 in 1952 to a total of $27,415,000. Trust companies accounted for 
$859,000 of this increase. 

Earnings 

Net profits of loan companies (excluding transfers to and from investment 
reserves) amounted to $3,143,000 in 1952 compared with profits in 1951 of 
$2,972,000. 

Trust companies' profits on the same basis were $4,109,000 compared with 
$4,336,000 in 1951, and $4,106,000 in 1950. 

The amount transferred to investment reserves which has been eliminated 
from the above figures amounts to $394,080 for loan companies and $572,278 
for trust companies. 

[vii] 



Dividends 

Dividends declared to shareholders in 1952 by loan companies amounted to 
$2,146,000 and by trust companies $2,749,000 as compared with $2,120,000 and 
$2,697,000 respectively in 1951. 

Liquid Position 

The percentage of liquid securities held by loan and trust corporations to de- 
posits held by them was 79.7% on June 30th, 1952 and 77.61% on December 
31st, 1952 as compared to 76.38% on June 30th, 1951 and 79.35% on December 
31st, 1950. 

All of which is respectfully submitted. 



R. B. Whitehead, 
Registrar of Loan and Trust Corporations 



[VIII] 



CONTENTS 



List of Corporations registered as on December 31, 1952, with index to Detailed Reports: 

Loan Corporations 176 

Trust Companies 178 

Detailed Reports: 

Loan Corporations having permanent stock only 3 

Trust Companies 29 

Regulations made under The Loan and Trust Corporations Act xi 

Tabulated Summaries of the Annual Statements as filed by registered corporations: 
Loan Corporations — 

Assets 126 

Liabilities 128 

Income 130 

Expenditure 132 

Profit and Loss Account 134 

Trust Companies — 

Assets (Company funds) 138 

Assets (Guaranteed funds) 140 

Liabilities (Company funds) 142 

Liabilities (Guaranteed funds) 143 

Income 144 

Expenditure 146 

Profit and Loss Account 148 

Guaranteed Fund Revenue 150 

Mortgages and Agreements on Real Estate classified as to Province: 

Loan Corporations 154 

Trust Companies (Company funds) 156 

Trust Companies (Guaranteed funds) 158 

Comparative Summary of Assets and Liabilities of : 

Loan Corporations 160 

Trust Companies (Company funds) 162 

Trust Companies (Guaranteed funds) 164 

Summary of Income and Expenditure of Loan and Trust Corporations 166 

Average Rates of Interest Earned and Dividends Paid 168 

Percentage of Revenue to Capital Investment, etc 169 

Statements of Deposits and Securities: 

December 31, 1952 172 

June 30, 1953 173 

[IX] 



EXTRACT FROM REGULATIONS MADE UNDER THE LOAN AND TRUST 

CORPORATIONS ACT 



(Regulations 244, Consolidated Regulations of Ontario, 1950) 

I. For the purpose of subsection 2 of section 81 of the Act, each of the companies named 
in Schedule 1 is approved as being acceptable as a trust company for the purposes of the 
Supreme Court. 

SCHEDULE 1 

1. The British Mortgage and Trust Corporation of Ontario 

2. The Brock ville Trust and Savings Company 

3. The Canada Permanent Trust Company 

4. The Canada Trust Company 

5. Chartered Trust Company 

6. Crown Trust Company 

7. The Eastern Trust Company 

9. The Guaranty Trust Company of Canada 
10. The Industrial Mortgage and Trust Company 

II. The Lambton Trust Company, Limited 

12. Montreal Trust Company 

13. National Trust Company, Limited 

14. The Northern Trusts Company 

15. The Premier Trust Company 

16. The Royal Trust Company 

17. The Sterling Trusts Corporation 

18. The Toronto General Trusts Corporation 

19. The Victoria and Grey Trust Company 

20. The Waterloo Trust and Savings Company 



[XI] 



I. LOAN CORPORATIONS 

Corporations Having Permanent Stock Only 



DETAILED REPORTS OF THE SEVERAL 
CORPORATIONS 



[1] 



CANADA PERMANENT MORTGAGE CORPORATION 
Head Office, Toronto, Ont. 

Officers 

President and General Manager, Charles S. Robertson; Vice-Presidents, Roy L. Warren, 
T. D'Arcy Leonard, Q.C., Leigh M. McCarthy; Secretary, J. W. Rose, Jr. 

Directors 

Charles S. Robertson, Roy L. Warren, T. D'Arcy Leonard, Q.C., Leigh M. McCarthy, 
Samuel Rogers, Q.C., G. Harold Aikins, Q.C., John A. MacAulay, Q.C., Henry S. 
gooderham, honourable c. j. burchell, p.c., q.c., e. l. macdonald. 

Auditors 

Kris A. Mapp, F.C.A., of Henry Barber, Mapp & Mapp; H. P. Herington, F.C.A., of 
Price, W T ater house & Co. 

Branch Offices 

Ontario Branch— Toronto, Ont.; Manitoba Branch — Winnipeg, Man.; Vancouver Branch — 
Vancouver, B.C.; New Brunswick Branch — Saint John, N.B.; Alberta Branch — Edmonton, 
Alta.; Saskatchewan Branch — Regina, Sask.; Oxford County Branch — Woodstock, Ont.; Nova 
Scotia Branch — Halifax, N.S.; Brant County Branch — Brantford, Ont.; Hamilton Branch — 
Hamilton, Ont.; Montreal Branch — Montreal, Que.; Port Hope Branch — Port Hope, Ont.; 
Victoria Branch — Victoria, B.C. 

Capital Stock 

Amount of Capital Stock authorized (1,000,000 shares of $20.00 each) $20,000,000.00 

Amount subscribed and paid in cash 7,000,000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Office premises $ 3,413,000.00 

Book value of real estate held for sale — freehold land (including buildings) 232,832.88 

Amount secured by mortgages on real estate including: 

First mortgages $73,570,344.45 

Agreements for sale 1,074,373.02 

Interest due 94,692.50 74,739,409.97 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral : 

Principal $ 101,273.54 

Interest due 280.07 101,553.61 



Book value of bonds and debentures: 

(a) Government of Canada, including 

guarantees $16,067,736.73 

Interest accrued 105,067.00 $16,172,803.73 



(b) Provinces of Canada, including 

guarantees $ 854,520.43 

Interest accrued 5,691.76 860 212.19 



(c) Canadian municipalities, school districts 

and rural telephone companies $ 1,290,168.77 

Interest accrued 8,557.00 1,298,725.77 



(d) All other bonds $ 1,005,811.58 

Interest accrued 8,706.54 1,014,518.12 19,346,259.81 



Book value of stocks 5,828,117.80 

Deposit with a Trust Co. for investment — principal, $23,591.49; 

accrued interest, $677.00 24,268.49 

Cash on hand 407,991.43 

Cash on deposit with chartered banks in Canada, $4,043,684.66; 

elsewhere, $5,842.45 4,049,527.11 



Total Assets $ 108,142,961.10 

[3] 



4 



THE REPORT OF THE 



CANADA PERMANENT MORTGAGE CORPORATION (Cont'd) 

Liabilities 

To the Public 
Amount of debentures issued and outstanding: 

(a) Payable in Canada $42,233,189.38 

Interest due and accrued 531,446.10 $42,764,635.48 

(b) Payable elsewhere than in Canada $ 500,551.11 

Interest due and accrued 2,493.47 503,044.58 $43,267,680.06 

Amount of money deposited with the corporation 49,004,506.44 

Taxes other than taxes on real estate 450,000.00 

Dividends to shareholders declared and unpaid 175,000.00 

Other expenses due and accrued 463.08 

Investment reserves 2,033,785.10 

All other liabilities 15,789.34 

Total $ 94,947,224.02 

To Shareholders 

Paid-in capital $ 7,000,000.00 

Reserve fund 6,000,000.00 

Balance of Profit and Loss Account 195,737.08 

Total $ 13,195,737.08 

Total Liabilities $108,142,961.10 



REVENUE ACCOUNT 
Income 

Rents earned, net on office premises $ 189,252.07 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 4,240,396.56 

(b) Collateral loans 4,256.77 

(c) Bonds and debentures 590,540.49 

(d) Dividends on stocks 299,830.08 

(e) Bank deposits 450.00 5,135,473.90 

Profit on sale of securities and real estate 82,349.46 

Agency fees and commissions earned 6,802.33 

Net rents from real estate 64,381.83 

All other revenue for the year 28,345.66 

Total $ 5,506,605.25 

Expenditure 

Interest incurred during the year on: 

(a) Debentures $ 1,248,254.71 

(b) Deposits 829,301.86 

$ 2,077,556.57 

Loss on sale of securities and real estate 294,185.57 

Amount by which ledger values of assets were written down 156,195.02 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 572,628.24 

(b) Provincial 55,359.61 

(c) Municipal 34,095.66 662,083.51 

Payment to Staff Pension and Insurance Fund 103,355.93 

Commission on loans 77,293.27 

All other expenses incurred : 

(a) Salaries (including living allowances) $ 778.279.97 

(b) Directors' fees 15,600.00 

(c) Auditors' fees 23,125.00 

(d) Legal fees 7,633.35 

(e) Rents 119,455.00 

(f) Travelling expenses 19,767.94 

(g) Printing and stationery 24.294.21 



1953 



REGISTRAR OF LOAN CORPORATIONS 



5 



CANADA PERMANENT MORTGAGE CORPORATION (Cont'd) 



(h) Advertising 41,340.21 

(i) Postage, telegrams, telephones and express 26,907.07 

(j) Commission on sale of debentures 7,232.82 

(k) Miscellaneous 202,083.10 1,265,718.67 



Net profit transferred to Profit and Loss Account 870,216.71 



Total $ 5,506,605.25 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 525,520.37 

Amount transferred from Revenue Account 870,216.71 

Total $ 1,395,737.08 

Dividends to shareholders declared during year $ 700,000.00 

Amount transferred to Reserve Fund 500,000.00 

Balance of account at December 31, 1952 195,737.08 

Total $ 1,395,737.08 



MISCELLANEOUS 

Rate of interest per annum paid by the Corporation : 

Average rate for year — (a) debentures payable in Canada, 2.971%; (b) debentures payable 

elsewhere, 2.854%; (c) deposits, 1.762%. 
Current rate paid— (a) 3H% to 3%%; (b) 3% and 3^%; (c) 2%. 

Average rate of interest per annum earned by the Corporation during the year on — (a) Mort- 
gages and agreements for sale of realty, 5.746%; (b) collateral loans, 4.712%; (c) bonds and 
debentures, 3.033%; (d) stocks owned, 4.988 %. 

Loans written off— $2,245.54 (principal, $1,526.69; interest, $718.85). 

Fidelity bonds on officers of the Corporation — Bankers' Blanket Bond No. 0143 of Dominion 
of Canada General Insurance Company for $200,000.00 on any one person, and covering 
all members of staff, expires May 25, 1954. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) February 13, 1952 (b) April 1, 1952 (c) 50c share 

(a) May 14, 1952 (b) July 2, 1952 (c) 50c share 

(a) August 13, 1952 (b) October 1, 1952 (c) 50c share 

(a) November 19, 1952 (b) January 2, 1953 (c) 50c share 

Date appointed for the Annual Meeting — January 30, 1953. 

Date of last Annual Meeting — February 1, 1952. 

Amount of interest permanently capitalized during the year — $4,905.99. 

Amount of Company's own debentures and interest, due and unpaid — principal, $124,115.97 
interest, $49,362.89. 



CONSTATING INSTRUMENTS 

This Corporation was incorporated under Special Act of the Dominion of Canada, 62-63 
Victoria (1899), c. 101, under the name of "The Canada Permanent and Western Canada 
Mortgage Corporation," for the purpose of acquiring the assets and business of the Canada 
Permanent Loan and Savings Company, the Western Canada Loan and Savings Company, the 
Freehold Loan and Savings Company, and The London and Ontario Investment Company, 
Limited, which several purchases were confirmed by Special Act of Ontario, 63 Victoria, 1900, 
c. 129. The name was changed to the "Canada Permanent Mortgage Corporation" by 3 Edward 
VII (1903), c. 94 (D), which Act also amended its lending powers. By 3-4 George V (1913), 
c. 86 (D) further amendments were made to the Incorporating Act. 

Of the constituent companies, the Canada Permanent Loan and Savings Company was 
incorporated by declaration filed under The Building Societies Act (Cons. Stat. U.C., c. 53) 
in 1855, under the name of the Canada Permanent Building and Savings Society, which name 
was changed to the Canada Permanent Loan and Savings Company by 37 Victoria (Ontario), 
1874, c. 100. 

The Western Canada Loan and Savings Company was also incorporated by declaration 
filed under The Building Societies Act in 1863, under the name of the Western Canada Permanent 
Building and Savings Society, and its name was changed to the Western Canada Loan and 
Savings Company by 37 Victoria (Ontario), 1874, c. 79. 

The Freehold Loan and Savings Company was also incorporated by declaration filed under 
The Building Societies Act in 1859, under the name of The Freehold Permanent Building and 



6 



THE REPORT OF THE 



CANADA PERMANENT MORTGAGE CORPORATION (Concl'd) 

Savings Society, the name being changed to The Freehold Loan and Savings Company by 36 
Victoria (Ontario), 1873, c. 104. 

The London and Ontario Investment Company was incorporated by the Act of Ontario, 
39 Victoria, 1876, c. 62. 

In 1918 the Corporation purchased the assets and business of The Oxford Permanent Loan 
and Savings Society, which purchase was ratified by Order-in-Council of Ontario, dated July 31, 
1918, pursuant to The Loan and Trust Corporations Act. 

In 1921 the Corporation purchased the assets and business of The London and Canadian 
Loan and Agency Company, Limited, which purchase was ratified by Order-in-Council of 
Ontario, dated September 23, 1921, pursuant to The Loan and Trust Corporations Act. 

In 1927 the Corporation purchased the assets and business of The Royal Loan and Savings 
Company, which purchase was ratified by Order-in-Council of Ontario, dated March 4, 1927, 
pursuant to The Loan and Trust Corporations Act. 

In 1927 the Corporation purchased the assets and business of The British Columbia Per- 
manent Loan Company, Vancouver, B.C. 

In 1927 the Corporation purchased the assets and business of The Canada Landed and 
National Investment Company, Limited, which purchase was ratified by Order-in-Council of 
Ontario, dated December 30, 1927, pursuant to The Loan and Trust Corporations Act. 

In 1944 the Corporation purchased the assets and business of The Landed Banking and 
Loan Company, which purchase was ratified by Order-in-Council of Ontario, dated October 18, 
1944, pursuant to The Loan and Trust Corporations Act. 

In 1945 the Corporation purchased the assets and business of The Real Estate Loan Com- 
pany of Canada, Limited, which purchase was ratified by Order-in-Council of Ontario, dated 
February 2, 1945, pursuant to The Loan and Trust Corporations Act. 

In 1946 the Corporation purchased the assets and business of The Montreal Loan and 
Mortgage Company, Montreal, Que. 

In 1948 the Corporation purchased the assets and business of the Midland Loan and Savings 
Company, which purchase was ratified by Order-in-Council of Ontario, dated December 4, 1947, 
pursuant to The Loan and Trust Corporations Act. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 



Principal 

and 
Charges 
Outstand- 
ing 



Interest 
Due and 
Unpaid 



Totals 



Ontario (a) 

Ontario (b) 

Quebec (b) 

Manitoba (a) 

Manitoba (b) 

British Columbia (a) 

British Columbia (b) 

New Brunswick (a) 

New Brunswick (b) 

Prince Edward Island (b) 

Alberta (a) 

Alberta (b) 

Saskatchewan (a) 

Saskatchewan (b) 

Nova Scotia (a) 

Nova Scotia (b) 

Newfoundland (b) 

Totals (a) 

Totals (b) 

Grand Totals 



$ c. 
1,513,796.72 
33,807,430.92 
9,495,932.59 
1,300,422.29 
2,531,676.15 
23,351.13 
6,378,642.96 
223.00 
4,309,204.31 
1,006,716.17 
923,812.64 
5,446,310.62 
769,205.40 
1,548,466.30 
19,531.35 
5,480,583.68 
220,549.78 



$ c. 
2,283.86 
7,550.00 
24,806.64 
29,695.76 
2,637.03 
10,115.98 
19,200.74 



5,795.13 
1,270.85 
-23,948.22 
128.281.79 
-36,911.89 
-9,189.35 
301.32 
12.097.67 
328.67 



$ 

1,516,080 
33,814,980 
9,520,739. 
1,270,726. 
2,534,313 
13,235. 
6,397,843. 

223. 
4,314,999. 
1,007,987. 

899,864. 
5,574,592. 

732,293. 
1,539,276. 

19,832. 
5,492,681. 
220,878. 



4,550,342.53 
70,225,513.48 



-98,086.67 
192,779.17 



4,452,255.86 
70,418,292.65 



74,775,856.01 



94,692.50 



74,870,548.51 



1953 



REGISTRAR OF LOAN CORPORATIONS 



7 



CREDIT FONCIER FRANCO-GANADIEN 

Head Office, Montreal, Que. 

Officers 

President, A. Debray; Vice-President, Hon. E. L. Patenaude; General Managers, M. 
Pasquin and B. Lechartier; General Secretary, J. DE Lavergne. 

Directors 

Andre Debray, Comte Cahen d'Anvers, Hon. E. L. Patenaude, E. Fouret, Hon. 
Leon Mercier Gouin, O. Moreau-Neret, Comte R. de Roumefort. M. Stern, Arthur 
Surveyer, Pierre Vinson. Armand Chevalier. 

Censors 

G. Geny, R. Labat, Paris, France; E. de B. Panet, Montreal. 

Auditors 

J. Arthur W. Archambault, Maurice Chartre, Chartered Accountants. 

Branch Offices 

Quebec, Que.; Toronto, Ont.; Winnipeg, Man.; Regina, Sask.; Edmonton, Alta.; Vancouver, 

B.C. 

Capital Stock 

Fr. Francs 

Amount of Capital Stock authorized (100,000 shares of Fr. francs 500 each) 50,000,000 

Amount subscribed 50,000,000 

Amount paid in cash 50,000,000 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Office premises $ 493,809.74 

Book value of real estate held for sale — freehold land (including buildings) 1,559,453.61 

Amount secured by mortgages on real estate including: 

First mortgages $49,652,941.24 

Agreements for sale 1,030,592.18 

Interest due 93,189.49 

Interest accrued 270,522.12 51,047,245.03 

(See Schedule B) 

Unamortized discount on debentures issued 336,539.82 

Amount of loans secured by stocks, bonds and other collateral : 

Principal $ 3,500.00 

Interest accrued 1 1 .08 

Short term deposits 1,528,438.68 

Interest accrued 1,315.06 1,533,264.82 



Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 1,723,249.52 

Interest accrued 10,181.29 1,733,430.81 

(b) Provinces of Canada, including 

guarantees $ 29,101.10 

Interest accrued 176.92 29,278.02 



(c) Canadian municipalities, school districts and rural tele- 
phone companies $ 385,075.57 

Interest accrued 2,656.72 387,732.29 



(d) All other bonds $ 762,534.63 

Interest accrued 7.626.31 770,160.94 2,920,602.06 



Cash on hand 71,971.61 

Cash on deposit with chartered banks in Canada, $971,315.72; 

elsewhere, $626,464.78 1 .597,780.50 

All other assets 232,008.39 



Total Assets $59,792,675.58 



8 



THE REPORT OF THE 



CREDIT FONCIER FRANCO-CANADIEN (Cont'd) 

Liabilities 

To the Public 

Amount of debentures and debenture stock issued and outstanding: 

(a) Payable in Canada $22,828,520.00 

(b) Payable elsewhere than in Canada 6,503,731.24 $29,332,251.24 



Matured debentures and interest due and accrued 487,246.71 

Deferred loans 666, 175. 15 

Taxes other than taxes on real estate 588,000.00 

Dividends to shareholders declared and unpaid, including Founders' shares 573,927.98 

All other liabilities 102,386.70 

Salaries, rents and other expenses due and accrued 178,549.74 

Investment reserves 7,081,309.89 

Suspense profit account 3,314,494.72 10,395,804.61 



Difference in exchange 3,116,282.67 



Total $45,440,624.80 



To Shareholders 

Paid-in capital $ 9,647,667.19 

Reserve fund— statutory reserve— Article 109 of the Charter 2,126,750.82 

General Contingency Reserve— Provident Fund— Article 109 of the Charter. . . . 1,310,000.00 

Balance of Profit and Loss Account 1 ,267,632.77 



Total $14,352,050.78 



Total Liabilities $59,792,675.58 



REVENUE ACCOUNT 
Income 

Interest and dividends earned on : 

(a) Mortgages and agreements for sale $ 2,955,642.49 

(b) Collateral loans 200.81 

(c) Bonds and debentures 81,970.43 

(d) Bank deposits 9,571.12 

(e) Other interest earned . 43,317.06 $ 3,090,701.91 

Profit on sale of securities and real estate 359,947.05 

All other revenue for the year 683,212.39 

Total $ 4,133,861.35 



Expenditure 

Interest incurred during the year on debentures and debenture stock $ 1,112,413.66 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 930,000.00 

(b) Provincial 185,252.42 

(c) Municipal 7,533.01 

(d) French Government tax 3,917.17 1,126,702.60 

Commission on loans 58,399.12 

All other expenses incurred : 

(a) Salaries and pensions $ 602.268.06 

(b) Directors' fees 8,640.00 

(c) Auditors' fees and censors' fees 17,500.00 

(d) Legal fees 43,118.54 

(e) Rents 8,916.21 

(f) Travelling expenses and inspections 51,732.55 

(g) Printing and stationery 23.609.32 

(h) Advertising 16,320.81 

(i) Postage, telegrams, telephones and express 21,129.93 

(j) Commission on payments of coupons and reimburse- 
ments of debentures 18,575.94 



1953 



REGISTRAR OF LOAN CORPORATIONS 



9 



CREDIT FONCIER FRANCO-CANADIEN (Cont'd) 

(k) Maintenance of office premises 3,504.75 

(1) Miscellaneous 200,735.17 1,016,051.28 

Net profit transferred to Profit and Loss Account 820,294.69 

Total $ 4,133,861.35 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 1,233,575.46 

Amount transferred from Revenue Account 820,294.69 



Total $ 2,053,870.15 



Dividends to shareholders declared during year $ 550,805.89 

Distribution to the Directors 37,077.15 

Distribution to the Founders 37,077.15 

Amount transferred to General Contingency Reserve 120,000.00 

Amount transferred to Reserve Fund 41,277.19 

Balance of account at December 31, 1952 1,267,632.77 



Total $ 2,053,870.15 



MISCELLANEOUS 

Rate of interest per annum paid by the Corporation : 

Average rate for vear — (a) debentures payable in Canada, 4.0404%; (b) debentures pay- 
able elsewhere, 4.067%. 

Current rate paid— (a) 2^%, 2%%, 3%, 3H%, 3^%, 3%%, 4%, 5%; (b) 3.6369% 
and 4.1332%. 

Average rate of interest per annum earned by the Corporation during the year on — (a) mort- 
gages and agreements for sale of realty, 5.6903%; (b) collateral loans, 3.8677%; (c) bonds 
and debentures, 2.3755%. 

Loans written off— $1,911.97. 

Dividends and bonuses declared during vear — (a) dates declared, (b) dates payable, (c) rates ' 

(a) May 13, 1952 (b) June 3, 1952 (c) 5.7092% 

Date appointed for the Annual Meeting — May 26, 1953. 
Date of last Annual Meeting— May 13, 1952. 

Amount of interest permanently capitalized during the year — $1,905.69. 

Amount of Company's own debentures and interest thereon, due and unpaid — $311,362.41. 



CONSTATING INSTRUMENTS 

PROVINCE OF QUEBEC: 

43-44 V., c. 60 — An Act to incorporate the Company. Schedule A to the Act contains the 
original constitution and laws of the Company. 

Amendments: 

45 V., c. 84— Amends 43-44 Vic, c. 60. 

47 V., c. 62 — Schedule A to the Act contains the revised constitution and laws of the 
Company. 

63 V., c. 74 — An Act to amend the Charter of the Credit Foncier Franco-Canadien. 

7 Ed. VII, c. 99— Ditto. 

8 Geo. VI, c. 82— Ditto. 

PROVINCE OF ONTARIO: 

44 V., c. 51 — Empowers the Company to establish branch offices in Ontario, to lend money, 
hold real estate in the Province, etc. 



10 



THE REPORT OF THE 



CREDIT FONCIER FRANCO-CANADIEN (Goncl'd) 

DOMINION OF CANADA: 

44 V., c. 58 — Section 13 defines the Company's borrowing powers. (See also 62-63 Vic, 
c. 41, s. 20.) 

46 V., c. 85 — Assimilates the powers of the Company to those of other Loan Companies. 
11-12 Geo. V., c. 80— Amendment. 

55-56 V., c. 29— (D. Criminal Code, 1892) by sec. 205 (6d) exempts the Company from 
the general law prohibiting lotteries. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 

(a) Farm 

(b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Quebec (a) 

Quebec (b) 

Ontario (a) 


$ c. 
41,983.59 
23,373,800.17 
3,857.14 
5,350,229.46 
123,113.67 
9,012,077.33 
9,960.92 
8,731,927.69 
459,781.15 
3,854.239.09 
848,767.57 
966,534.22 


$ c. 
114.22 
5,020.65 


$ c. 
25.00 
43,114.46 
4.00 
1,153,53 
619.85 
1,347.82 
456.59 
3,935.30 
26,069.63 
3,179.02 
95,761.04 
52.42 


$ c. 
187.20 
120,342.62 
23.12 
25,018.02 
1,170.61 
44,766.86 
40.93 
41,934.25 
2,770.42 
21,060.53 
7,593.39 
5,614.17 


$ c. 
42,310.01 
23,542,277.90 
3,884.26 
5,382,719.25 
124,920.93 
9,072,923.22 
10,458.44 
8,790,542.86 
511,913.50 
3,884,367.16 
962.827.54 
976,132.75 


Ontario (b) 

Manitoba (a) 

Manitoba (b) 

British Columbia (a) 
British Columbia (b) 

Alberta (a) 

Alberta (b) 

Saskatchewan . . . (a) 
Saskatchewan . . . (b) 

Totals (a) 
Totals (b) 

Grand Totals. 


6,318.24 
16.80 
14,731.21 

' '12,745.62 
23,292.30 

5,888.52 
10,705.54 

3,931.94 


1,487,464.04 
51,288,807.96 


34,128.86 
48,636.18 


122,936.11 
52,782.55 


11,785.67 
258,736.45 


1,656,314.68 
51,648,963.14 


52,776,272.00 


82,765.04 


175,718.66 


270,522.12 


53,305,277.82 



1953 



REGISTRAR OF LOAN CORPORATIONS 



11 



EASTERN CANADA SAVINGS AND LOAN COMPANY 
Head Office, Halifax, N.S. 

Officers 

President, C. A. B. Bullock; Vice-President, H. P. Connor; Manager, G. W. Hazen; 
Secretary, F. A. Milne. 

Directors 

C. A. B. Bullock, H. P. Connor, J. C. MacKeen, W. N. Wickwire, G. W. Hazen. 

Auditors 

Johnson, Smith & Co., C.A., and E. A. Saunders. 



Capital Stock 

Amount of Capital Stock authorized (125,000 shares of $10.00 each) $ 1,250,000.00 

Amount subscribed and paid in cash 1,250,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Office premises $ 32,000.00 

Amount secured by mortgages on real estate including: 

First mortgages $15,942,985.47 

Agreements for sale 28,884.54 

Interest accrued 56,194.50 16,028,064.51 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral — principal 6,311.60 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 614,000.00 

(b) Provinces of Canada, including guarantees 148,000.00 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 62,496.30 

(d) Interest accrued on above 7,187.50 831,683.80 



Book value of stocks $ 124,731.39 

Accrued dividends thereon 1 ,380. 17 126, 1 1 1 .56 



Cash on hand 50,871.81 

Cash on deposit with chartered banks in Canada, $532,531.92, elsewhere, $557.47 533,089.39 
All other assets 1,805.83 



Total Assets $17,609,938.50 



Liabilities 

To the Public 

Amount of debentures and debenture stock issued and outstanding: 

(a) Payable in Canada $12,848,198.93 

Interest due and accrued 138,477.98 $12,986,676.91 

(b) Payable elsewhere than in Canada $ 14,600.00 

Interest due and accrued 59.31 14,659.31 $13,001,336.22 

Amount of money deposited with the corporation 2,185,929.66 

Taxes other than taxes on real estate 68,123.42 

All other liabilities 1 ,23 1 .09 

Total $15,256,620.39 



12 



THE REPORT OF THE 



EASTERN CANADA SAVINGS AND LOAN COMPANY (Cont'd) 

To Shareholders 

Paid-in capital $ 1,250,000.00 

Reserve fund 890,000.00 

General Contingency Reserve 140,000.00 

Balance of Profit and Loss Account 73,318.11 

Total $ 2,353,318.11 

Total Liabilities $17,609,938.50 

REVENUE ACCOUNT 
Income 

Rents earned, net on office premises $ 89.70 

Interest and dividends earned on : 

(a) Mortgages and agreements for sale $ 884,504.22 

(b) Collateral loans 246.78 

(c) Bonds and debentures 26,199.92 

(d) Dividends on stocks 7,072.58 918,023.50 

Profit on sale of securities and real estate 3,292.65 

Amount by which ledger values of assets were written up 13.40 

All other revenue for the year 7,021.27 



Total $ 928,440.52 

Expenditure 

Interest incurred during the year on : 

(a) Debentures and debenture stock $ 436,278.93 

(b) Deposits 44,054.54 

(c) Other borrowed money 176.62 480,510.09 

Loss on sale of securities and real estate 39.00 

Amount by which ledger values of assets were written down 17,820.34 

License fees and taxes other than taxes on real estate : 

(a) Dominion $ 135,016.76 

(b) Municipal 2,500.53 137,517.29 

All other expenses incurred : 

(a) Salaries S 92,518.74 

(b) Directors' fees 7,500.00 

(c) Auditors' fees 3,400.00 

(d) Rents 6,920.00 

(e) Printing and stationery 4,598.57 

(f) Advertising 9,459.12 

(g) Postage, telegrams, telephones and express 5,367.48 

(h) Commission on sale of debentures 16,291.27 

(i) Pensions 11,063.41 

(j) Miscellaneous 17,966.54 175,085.13 

Net profit transferred to Profit and Loss Account 117,468.67 

Total ■ $ 928,440.52 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year S 70,849.44 

Amount transferred from Revenue Account 117,468.67 

Total $ 188,318.11 

Dividends to shareholders declared during year $ 100,000.00 

Amount transferred to General Contingency Reserve 10,000.00 

Amount transferred to Reserve Fund 5,000.00 

Balance of account at December 31, 1952 73,318.11 

Total $ 188,318.11 



1953 



REGISTRAR OF LOAN CORPORATIONS 



13 



EASTERN CANADA SAVINGS AND LOAN COMPANY (Concl'd) 

MISCELLANEOUS 

Rate of interest per annum paid by the Corporation : 

Average rate for year — (a) debentures payable in Canada, 3.63%; (b) debentures pay- 
able elsewhere, 3.25%; (c) debenture stock, 3.68%; (d) deposits, 2.35%. 
Current rate paid— (a) 3y 2 %, 3%%, 4^%, 5%; (b) 3^%; (c) 3^%, 3%%, 4^%, 5%; 
(d) 2%, 2H%, 2^%. 

Average rate of interest per annum earned by the Corporation during the year on — (a) mort- 
gages and agreements for sale of realty, 5.80%; (b) collateral loans, b l A%; (c) bonds and 
debentures: Dominion 3%, Provincial 3.14%, Municipal 3.75%; (d) stocks owned, 5.40%. 

Fidelity bonds on officers of the Corporation — Brokers' Blanket Bond, Canada Accident and 

Fire Assurance Company No. 3811, covers all staff to February 3, 1956. 

Dividends and bonuses declared during year — (b) dates payable, (c) rates: 

(a) November 16, 1951 (b) January 2, 1952 (c) 20c share 

(a) February 13, 1952 (b) April 1, 1952 (c) 20c share 

(a) May 21, 1952 (b) July 2, 1952 (c) 20c share 

(a) August 13, 1952 (b) October 1, 1952 (c) 20c share 

Date appointed for the Annual Meeting — February 25, 1953. 

Date of last Annual Meeting — February 27, 1952. 

Amount of interest permanently capitalized during the year — $458.69. 



CONSTATING INSTRUMENTS 
Incorporated— C. 113, Dom. Acts, 1887-50-51 VIC. 

Amendments to charter— 1893-56 VC 83, 1901 E. VII, C. 96, 1914-4-5 G.-VC. 137, 
1930-20-21 G.V.C. 64. 

Commenced business — 1888. 

Certificate of Registrv for Province of Ontario, No. 3354, dated July 20, 1940, to expire 
June 30, 1950. Renewed to July 1, 1953. 

Order-in-Council approved July 28, 1949; O.C.— 133149. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Interest 
Accrued 


Totals 


Nova Scotia (b) 

New Brunswick (b) 


$ c. 
15,702,475.49 
87,059.86 
153,450.12 
28,884.54 


$ c. 
56,194.50 


$ c. 
15,758,669.99 
87,059.86 
153,450.12 
28,884.54 


Prince Edward Island (b) 

Agreements (b) 




Totals 




15,971,870.01 


56,194.50 


16,028,064.51 



14 



THE REPORT OF THE 



THE HURON AND ERIE MORTGAGE CORPORATION 

Head Office, London, Ont. 

Officers 

Chairman of the Board, Col. I. Leonard, D.S.O.; President and General Manager, M. Ayls- 
worth; Vice-President, E. A. Wilson; Secretary, J. P. Collyer; Treasurer, R. P. Baker. 

Directors 

M. Aylsworth, Col. Ibbotson Leonard, D.S.O., V. P. Cronyn, H. E. Cochran, C.B.E., 
F. P. Dawson, Q.C., Hon. Ray Lawson, O.B.E., LL.D., D.C.N.L., J. E. McConnell, J. J. 
McHale, K.S.S., Maj.-Gen. A. C. Spencer, C.B.E., E.D., LL.D., D.Litt.S., E. A. Wilson. 

Auditors 

J. V. Mapp, F.C.A., and Kris A. Mapp, F.C.A., of Henry Barber, Mapp & Mapp, Char- 
tered Accountants. 

Branch Offices 

St. Thomas, Ont.; Regina, Sask.; London, Ont., (3); Winnipeg, Man.; Edmonton, Alta.; 
Windsor, Ont.; Toronto, Ont.; Chatham, Ont.; Victoria, B.C.; Hamilton, Ont.; Vancouver, B.C.; 
Guelph, Ont.; St. Catharines, Ont.; Calgary, Alta. 

Capital Stock 

Amount of Capital Stock authorized (100,000 shares of $100.00 each) $10,000,000.00 

Amount subscribed 9.000,000.00 

Amount paid in cash : 

On $4,000,000.00 stock fully called $ 4,000,000.00 

On $5,000,000.00 stock 20% called 1,000,000.00 $ 5.000,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
^Vssc t s 

Office premises $ 2,259,136.09 

Amount secured by mortgages on real estate including : 

First mortgages $42,965,021.14 

Agreements for sale 388,196.08 43,353.217.22 

(See Schedule B) 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $11,378,725.24 

Interest accrued 60,105.92 11,438.831.16 

(b) Provinces of Canada, including 

guarantees $ 2,200,800.11 

Interest accrued 17,148.30 2.217,948.41 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 529,790.31 

(d) All other bonds 80,881.61 14,267,451.49 

Book value of stocks 5,050,725.04 

Cash on hand 398.300.29 

Cash on deposit with chartered banks in Canada 1,429,528.07 

All other assets 101,408.98 

Total Assets $ 66.859,767.18 

Liabilities 

To the Public 

Amount of debentures and debenture stock issued and outstanding: 

Payable in Canada $29,102,426.47 

Interest due and accrued 309.154.35 29.411.580.82 

Amount of money deposited with the corporation $29,468,851.86 

Interest accrued thereon 36.405.92 29.505,257.78 

Taxes other than taxes on real estate 50.000.00 

Dividends to shareholders declared and unpaid 75.000.00 

Total $59,041,838.60 



1953 



REGISTRAR OF LOAN CORPORATIONS 



15 



THE HURON AND ERIE MORTGAGE CORPORATION (Cont'd) 



To Shareholders 



Paid-in capital $ 5,000,000.00 

Reserve fund 2,600,000.00 

Balance of Profit and Loss Account 217,928.58 

Total $ 7,817,928.58 

Total Liabilities $66,859,767.18 



REVENUE ACCOUNT 
Income 

Rents earned, net on office premises $ 155,325.36 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 2,202,608.31 

(b) Collateral loans 89.57 

(c) Bonds and debentures 519,805.13 

(d) Dividends on stocks 264,236.37 

(e) Bank deposits 17.29 2,986,756.67 

Profit on sale of securities and real estate 17,588.96 

Agency fees and commissions earned 4,482.26 

All other revenue for the year 8,447.01 



Total $ 3,172,600.26 



Expenditure 



Interest incurred during the year on: 

(a) Debentures and debenture stock $ 826,521.28 

(b) Deposits 363,558.88 

(c) Other borrowed money 5,742.48 $ 1,195,822.64 



Amount by which ledger values of assets were written down 85,473.73 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 216,433.19 

(b) Provincial 71.71 

(c) Municipal 22,129.62 238,634.52 



Commission on loans and on sale of real estate 82,988.24 

Amount transferred to Investment Reserves 280,000.00 

All other expenses incurred: 

(a) Salaries $ 482,265.27 

(b) Directors' fees 20,953.90 

(c) Auditors* fees 15,446.18 

(d) Legal fees 2.023.69 

(e) Rents 102.087.36 

(f) Travelling expenses 13,275.64 

(g) Printing and stationery 32,105.06 

(h) Advertising 22,112.63 

(i) Postage, telegrams, telephones and express 20,020.16 

(j) Commission on sale of debentures 12,813.41 

(k) Miscellaneous 122,379.31 845,482.61 



Net profit transferred to Profit and Loss Account 444,198.52 



Total $ 3,172,600.26 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 173,730.06 

Amount transferred from Revenue Account 444,198.52 



Total $ 617,928.58 



15 



THE REPORT OF THE 



THE HURON AND ERIE MORTGAGE CORPORATION (Cont'd) 

Dividends to shareholders declared during year $ 300,000.00 

Amount transferred to Reserve Fund 100,000.00 

Balance of account at December 31. 1952 ' 217i928.58 



Total S 617,928.58 



MISCELLANEOUS 

Rate of interest per annum paid by the Corporation: 

Average rate for vear — (a) debentures payable in Canada, 3.0107%; (b) deposits, 1.2362%. 
Current rate paid— (a) 1 and 2 years, 3%, 3 to 10 years, 3V 2 %; (b) l}4%. 

Average rate of interest per annum earned by the Corporation during the year on — (a) mort- 
gages and agreements for sale of realty, 5.4347%; (b) collateral loans, 4.7593%; (c) bonds 
and debentures, 3.0344%; (d) stocks owned. 5.1948%. 

Loans written off— $23.62. 

Fidelity bonds on officers of the Corporation — Canadian General Insurance Company Bond No. 
2c/0336 expiring March 1, 195o— fidelity bond covers entire staff up to $500,000.00 in case 
of default of one or more members. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) January 15, 1952 (b) April 1, 1952 (c) W 2 % 

(a) April 15, 1952 (b) July 2, 1952 (c) 

(a) June 17, 1952 (b) October 1, 1952 (c) l}4% 

(a) October 21, 1952 (b) January 2, 1953 (c) \y 2 % 

Date appointed for the Annual Meeting — February 11, 1953. 

Date of last Annual Meeting— February 13, 1952. 

Amount of interest permanently capitalized during the year — S24.440.40. 

Amount of Company's own debentures and interest thereon, due and unpaid— 8158,969.31. 



CONSTATING INSTRUMENTS 

March 15, 1864: Declaration made and filed (March 18, 1864) in pursuance of chapter 53. 
Consolidated Statutes of Upper Canada, 1859, incorporating The Huron & Erie Savings & Loan 
Society under the said Act. 

1865, 28 Victoria, chapter 41: an Act of the Legislative Council and Assembly of Canada 
whereby the London Permanent Building & Savings Society was amalgamated with and merged 
in The Huron & Erie Savings & Loan Society. 

1866, 29-30 Victoria, chapter 132 : an Act of the Legislative Council and Assembly of Canada 
whereby the Western Counties Permanent Building & Savings Society was amalgamated with 
and merged in The Huron & Erie Savings & Loan Society. 

1875, 39 Victoria, chapter 95: an Act changing the name of The Huron & Erie Savings & 
Loan Society to The Huron & Erie Loan & Savings Company. 

1875, September 2: Declaration filed in pursuance of chapter 53, Consolidated Statutes of 
Canada, 1859, whereby the Canadian Savings & Loan Company of London, Canada, was incor- 
porated under the said Act. 

1896, 59 Victoria, chapter 49, Canada: an Act for defining the borrowing powers of the 
Company and for consolidating legislation in relation thereto. 

1899, 62-63 Victoria, chapter 115, Canada: an Act regulating the amount of the Company's 
liabilities to the public and as to the types of security in which it may invest. 

1905, 4-5 Edward VII, chapter 105, Canada: an Act dealing with the Company's liabilities 
to the public, limiting the amount from time to time to be held on deposit, and as to the extent 
of borrowing power. 

1905, December 29: an Order of the Lieutenant-Governor in Council, assenting to an agree- 
ment whereby the assets of The Canadian Savings & Loan Company were vested in The Huron 
& Erie Loan & Savings Company. 

1906, 6 Edward VII, chapter 110, Canada: an Act whereby The Canadian Savings & Loan 
Company of London, Canada, was amalgamated with and merged in The Huron & Erie Loan 
and Savings Company. 

1906, 6 Edward VII, chapter 130, Ontario: an Act of the Province of Ontario similar to the 
one above described and for the same purpose. 

1913, 3-4 Geo. V, chapter 130, Canada: an Act permitting the Company to increase the 
amount of its liabilities to the public. 

1915, 5 Geo. V, chapter 74, Canada: an Act changing the name of The Huron & Erie Loan 
& Savings Company to The Huron & Erie Mortgage Corporation, authorizing the increase of 
the Company's capital stock, the establishment of a pension fund. etc. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



17 



THE HURON AND ERIE MORTGAGE CORPORATION (Concl'd) 

1915, 5 Geo. V, chapter 86, Ontario: an Act for the same purpose as the Dominion Act last 
above recited. 

1922, August 29: an Order of the Lieutenant-Governor of the Province of Ontario in Council, 
assenting to an agreement whereby the assets of the Dominion Savings & Investment Society 
were vested in The Huron & Erie Mortgage Corporation. 

1926, October 13: an Order of the Lieutenant-Governor of the Province of Ontario in Council, 
assenting to an agreement whereby the assets of The Hamilton Provident & Loan Corporation 
were vested in The Huron & Erie Mortgage Corporation. 

1927, May 31: an Order of the Lieutenant-Governor of the Province of Ontario in Council, 
assenting to an agreement whereby the assets of The Southern Loan & Savings Company were 
vested in The Huron & Erie Mortgage Corporation. 

1929, August 29: an Order of the Lieutenant-Governor of the Province of Ontario in Council, 
assenting to an agreement respecting the sale of the assets of The London Loan & Savings 
Company to The Huron & Erie Mortgage Corporation. 

1931, January 17: an Order of the Lieutenant-Governor of the Province of Ontario in Council, 
assenting to an agreement, dated November 18, 1930, whereby the assets of The People's Loan 
& Savings Corporation were vested in The Huron & Erie Mortgage Corporation. 

1949, December 1 : an Order of the Lieutenant-Governor of the Province of Ontario in Council, 
assenting to an agreement .dated October 12, 1949. whereby the assets of The Guelph and Ontario 
Investment and Savings Society were vested in The Huron and Erie Mortgage Corporation. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 

(a) Farm 

(b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Amount of 
Interest 

Due 
and Not 
Charged 


Ontario (a) 

Ontario (b) 

Manitoba (a) 

Manitoba (b) 


$ c. 
3,276,254.17 
32,587,861.48 
171,180.30 
1,406,294.48 
1,555,338.11 
93,262.22 
548,839.08 
2,077,195.26 


$ c. 
720.82 
752.41 
625.24 


$ c. 
4,518.43 
106,368.47 
885.76 
4,698.30 
36,658.03 
347.98 
7,262.64 
3,784.67 


$ c. 
89,560.27 
409,623.45 
3,555.27 
19,833.68 
26,755.63 
1,397.02 
21,050.30 
29,796.71 


S c. 
3,371,053.69 
33,104,605.81 
176,246.57 
1,430,826.46 
1,631,898.71 
95,808.99 
582,900.93 
2,110,932.03 


S c. 
.85 
18.36 
286.13 


Saskatchewan ... (a) 
Saskatchewan . . . (b) 

Alberta (a) 

Alberta (b) 

British Columbia. (a) 
British Columbia. (b) 

Totals (a) 

Totals (b) 

Grand Totals. 


13,146.94 
801.77 
5,748.91 
155.39 


13,141.49 

1,061.00 
1.63 


2,232,205.19 




9,895.63 


31,084.79 


2,273,185.61 




5,551,611.66 
38,396,818.63 


20,241.91 
1,709.57 


49,324.86 
125,095.05 


140,921.47 
491,735.65 


5,762,099.90 
39,015,358.90 


14,489.47 
19.99 


43,948,430.29 


21,951.48 


174,419.91 


632,657.12 


44,777,458.80 


14,509.46 



IS 



THE REPORT OF THE 



THE LAMBTON LOAN AND INVESTMENT COMPANY 
Head Office, Sarnia, Ont. 

Officers 

President, J. A. Smith; Vice-President, William Guthrie; Manager, G. C. Norsworthy; 
Secretary-Treasurer, S. A. Hyde. 

Directors 

C. H. Belton, J. A. Smith, Wm. H. Kenny, Wm. Guthrie, H. M. Taylor, Q.C., Wm. A. 
Donohue, Harry Wilson, Eugene King, C. E. Janes, M.P.P. 

Auditors 

W. D. Glendinning, F.C.A., and W. F. MacLennan, C.A., of the firm of Glendinning, 
Jarrett, Gray & Roberts. 



Capital Stock 

Amount of Capital Stock authorized (20,000 shares of $50.00 each) $ 1,000,000.00 

Amount subscribed and paid in cash 789,750.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Office premises $ 156,570.26 

Amount secured by mortgages on real estate including: 

First mortgages $ 3,758,556.30 

Agreements for sale 141,139.38 

Interest due 5,496.66 3,905, 192.34 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral: 

(There is included in the collateral $14,450.00 of the Company's own stock, 
upon which $14,450.00 has been paid.) 

Principal $ 61,494.72 

Interest due 439.66 

Interest accrued 781.00 62,715.38 



Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $ 965,288.00 

Interest accrued 11,311.00 $ 976,599.00 



(b) Provinces of Canada, including 

guarantees $ 45,875.00 

Interest accrued 533.00 46,408.00 



(c) Canadian municipalities, school districts and rural tele- 
phone companies $ 595,212.01 

Interest accrued 5,814.00 601,026.01 



(d) All other bonds $ 57.000.00 

Interest accrued 275.00 57,275.00 1,681,308.11 



Book value of stocks 362,638.75 

Cash on hand 37.110.33 

Cash on deposit with chartered banks in Canada 337,365.72 

All other assets 12,681.51 



Total Assets 



$ 6,555,582.30 



1953 



REGISTRAR OF LOAN CORPORATIONS 



19 



THE LAMBTON LOAN AND INVESTMENT COMPANY (Cont'd) 

Liabilities 

To the Public 

Amount of debentures and debenture stock issued and outstanding: 



Payable in Canada $ 2,216.008.81 

Interest due and accrued 30.328.83 2,246,337.64 



Amount of money deposited with the corporation $ 2,506,445.82 

Interest accrued thereon 11,000.00 2,517,445.82 



Taxes other than taxes on real estate 32,532.21 

Dividends to shareholders declared and unpaid 39,487.50 

All other liabilities 1,000.00 



Total $ 4,836,803.17 



To Shareholders 

Paid-in capital $ 789,750.00 

Reserve fund 850,000.00 

Balance of Profit and Loss Account 79,029.13 



Total $ 1,718,779.13 



Total Liabilities $ 6,555,582.30 



REVENUE ACCOUNT 
Income 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale S 213,605.93 

(b) Collateral loans 3,512.96 

(c) Bonds and debentures 56,006.46 

(d) Dividends on stocks 16.670.00 $ 289,795.35 



Agency fees and commissions earned 122.90 

All other revenue for the year 2,353.61 



Total $ 292.271.86 



Expenditure 

Interest incurred during the year on: 

(a) Debentures and debenture stock S 67,876.26 

(b) Deposits 41,694.62 

(c) Other borrowed money 382.06 109,952.94 

Loss on sale of securities and real estate 713.71 

License fees and taxes other than taxes on real estate: 

Dominion 57,000.00 

Commission on loans and on sale of real estate 1,630.00 

Amount transferred to Investment Reserves 15.000.00 

All other expenses incurred: 

(a) Salaries $ 30,514.23 

(b) Directors' fees 6,440.00 

(c) Auditors' fees 1,700.00 

(d) Legal fees 731.76 

(e) Staff Pension Plan 1,424.65 

(f) Travelling expenses 3,487.51 

(g) Printing and stationery 1,141.81 

(h) Advertising 3,569.41 

(i) Postage, telegrams, telephones and express 940.37 

(j) Commission on sale of debentures 351.37 

(k) Maintenance of office premises 1.087.79 

G) Miscellaneous 7,978.82 



S 59 367 72 

Less: Trust Co 2, 100.00 57,267.72 

Net profit transferred to Profit and Loss Account 50,707.49 



Total 



$ 292.271.86 



20 



THE REPORT OF THE 



THE LAMBTON LOAN AND INVESTMENT COMPANY (Concl'd) 

PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 91,501.64 

Amount transferred from Revenue Account 50,707.49 

Total $ 142,209.13 

Dividends to shareholders declared during year $ 63,180.00 

Balance of account at December 31, 1952 79,029.13 

Total $ 142,209.13 



MISCELLANEOUS 

Rate of interest per annum paid by the Corporation : 

Average rate for year— (a) debentures payable in Canada, 3.18%; (b) deposits, 1.75%. 
Current rate paid— (a) 2%%, 3%, 33^%, 4%; (b) 2%. 

Average rate of interest per annum earned by the Corporation during the year on — (a) mort- 
gages and agreements for sale of realty, 5.61%; (b) collateral loans, 5.14%; (c) bonds and 
debentures, 3.09%; (d) stocks owned, 6.05%. 

Fidelity bonds on officers of the Corporation — Employers' Liability expires October 24, 1954, 
for $50,000.00; Policy No. 202067. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) May 16, 1952 (b) July 2, 1952 (c) 3% 

(a) November 20, 1952 (b) January 2, 1953 (c) 3% plus 2% 

Date of last Annual Meeting — February 1, 1952. 

Amount of interest permanently capitalized during the year — $2,058.86. 

Amount of Company's own debentures and interest thereon, due and unpaid — $30,847.45. 



CONSTATING INSTRUMENTS 

Incorporated under The Building Societies Act, 9 Vict., c. 90 (Province of Canada), by 
declaration filed on March 27, 1847, with the Clerk of the Peace for the Western District. The 
original corporate name was "The Port Sarnia Building Society." The society was reorganized 
as "The Lambton Permanent Building and Investment Society" under the said Act and other 
Acts, all of which became consolidated as chapter 53 of the Consolidated Statutes of Upper 
Canada, by declaration filed June 19, 1855, with the Clerk of the Peace for the County of 
Lambton. This latter corporate name was changed by Order-in-Council, June 4, 1880, to The 
Lambton Loan and Investment Company. 

The lending and the borrowing powers are governed by The Loan and Trust Corporations 

Act. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Totals 


Amount of 
Interest 

Due 
and Not 
Charged 


Ontario (a) 

Ontario (b) 

Totals 


$ c. 
1,365,677.42 
2,548,003.52 


$ c. 
386.65 
1,976.00 


$ c. 
3,326.53 
2,170.13 


S c. 
1,369.390.60 
2,552,149.65 


$ c. 
442.26 
57.18 


3,913,680.94 


2,362.65 


5.496.66 


3,921,540.25 


499.44 





1953 



REGISTRAR OF LOAN CORPORATIONS 



21 



THE ONTARIO LOAN AND DEBENTURE COMPANY 
Head Office, London, Ont. 

Officers 

President, Archibald McPherson; Vice-President and Executive Director, Thomas H. Main; 
Manager and Secretary, F. Earl A. McKellar. 

Directors 

Archibald McPherson, Thomas H. Main, John McClary Gunn, O. Roy Moore, James 
B. Orr, Alexander H. Jeffery, M.P., W. Bradley Granger, F. Earl A. McKellar, P. 
Anthony DuMoulin. 

Auditors 

A. G. Calder, F.C.A., R. C. Cowle, C.A. 
Capital Stock 

Amount of Capital Stock authorized (84,000 shares of $50.00 each) $ 4,200,000.00 

Amount subscribed 2,500,000.00 

Amount paid in cash 2,500,000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 

Office premises $ 82,000.00 

Amount secured by mortgages on real estate including: 

First mortgages $25,581,673.72 

Agreements for sale 14,507.81 25,596,181.53 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral — principal 125,403.59 

*Book value of bonds and debentures: 

(a) Government of Canada, including 

guarantees $ 5,170,825.89 

Interest accrued 46,950.31 5,217,776.20 



(b) Provinces of Canada, including 

guarantees $ 788,795.72 

Interest accrued 4,705.81 793,501.53 



(c) Canadian municipalities $ 12,798.00 

Interest accrued 304.65 13,102.65 



(d) All other bonds $ 48,000.00 

Interest accrued 625.00 48,625.00 6,073,005.38 



Book value of stocks 186,749.32 

Cash on hand 90,652.47 

Cash on deposit with chartered banks in Canada, $532,434.34; 

elsewhere, $130,575.81 663,010.15 



Total Assets $32,817,002.44 



*As at December 31, 1952, an amount of $100,000.00 was transferred from the Investment Reserve 
deducted from Mortgages in the above Balance Sheet, to the Investment Reserve applied against 
Bonds. 

Liabilities 

To the Public 
Amount of debentures issued and outstanding: 

Payable in Canada $18,795,941.50 

Interest due and accrued 173,549.80 $18,969,491.30 



Amount of money deposited with the corporation 7,954,045.27 

Taxes other than taxes on real estate — including provision for balance of Dom- 
inion income tax for 1952 178,588.41 

Dividends to shareholders declared but not due and payable until Jan. 2, 1953. . 62,500,00 

All other liabilities 40,274,44 



Total $27,204,899.42 



To Shareholders 

Paid-in capital $ 2,500,000.00 

Reserve fund 3,000,000.00 



22 



THE REPORT OF THE 



THE ONTARIO LOAN AND DEBENTURE COMPANY (Cont'd) 

Balance of Profit and Loss Account * 112,103.02 



Total $ 5,612,103.02 



Total Liabilities $32,817,002.44 



REVENUE ACCOUNT 
Income 

Rents earned, net on office premises $ 2,183.83 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 1,357,985.37 

(b) Collateral loans 6,024.40 

(c) Bonds and debentures 202,792.34 

(d) Dividends on stocks 8,314.00 

1,575,116.11 

Agency fees and commissions earned 434.60 

All other revenue for the year 4,045.61 

Total $ 1,581,780.15 

Expenditure 

Interest incurred during the year on: 

(a) Debentures $ 553,532.63 

(b) Deposits 143,450.92 

(c) Other borrowed money 1,383.82 698,367.37 

Loss on sale of securities 1,894.91 

Amount by which ledger values of assets were written down 3,000.00 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 315,000.00 

(b) Provincial miscellaneous taxes 339.71 

(c) Municipal 5,486.71 

320,826.42 

Commission on loans and on sale of real estate 35,691.28 

Amount transferred to Investment Reserves 17,869.54 

All other expenses incurred: 

(a) Salaries $ 137,028.33 

(b) Directors' fees 10,340.00 

(c) Auditors' fees 5,000.00 

(d) Legal fees 1,514.00 

(e) Rents 12,000.00 

(f) Travelling expenses 5,370.79 

(g) Printing and stationery 4,412.78 

(h) Advertising 10,509.62 

(i) Postage, telegrams, telephones and express 5,184.35 

(j) Commission on sale of debentures 1,615.50 

(k) Miscellaneous 31,002.49 223,977.86 

Net profit transferred to Profit and Loss Account 280,152.77 

Total $ 1,581,780.15 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 89,450.25 

Amount transferred from Revenue Account 280,152.77 

Total $ 369,603.02 

Dividends to shareholders declared during year 250,000.00 

Benefit Fund for Employees 7.500.00 

Balance of account at December 31, 1952 1 12.103.02 

Total $ 369.603.02 



1953 



REGISTRAR OF LOAN CORPORATIONS 



23 



THE ONTARIO LOAN AND DEBENTURE COMPANY (Concl'd) 

MISCELLANEOUS 

Rate of interest per annum paid by the Corporation: 

Average rate for year — (a) debentures payable in Canada, 3.0559%; (b) deposits, 1.8622%. 
Current rate paid — (a) 3%% for 5 years, 33^% for 3 years; (b) 2% minimum monthly. 

Average rate of interest per annum earned by the Corporation during the year on — (a) mort- 
gages and agreements for sale of realty 5.2311%; (b) collateral loans, 5.0472%; (c) bonds 
and debentures, 3.0492%; (d) stocks owned, 4.5415%. 

Fidelity bonds on officers of the Corporation — United States Fidelity and Guarantee Company 
Brokers Blanket Bond No. 02-415-50 held on all employees of Company for $100,000.00, 
expiring 21/9/53. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) February 19, 1952 (b) April 1, 1952 (c) 2]/ 2 % Quarterly 

(a) May 27, 1952 (b) July 2, 1952 (c) 2 ]/ 2 % Quarterly 

(a) August 19, 1952 (b) October 1, 1952 (c) 2Y 2 % Quarterly 

(a) November 25, 1952 (b) January 2, 1953 (c) 2^% Quarterly 

Date appointed for the Annual Meeting — February 11, 1953. 

Date of last Annual Meeting — February 13, 1952. 

Amount of Company's own debentures, due and unpaid — $47,968.01 



CONSTATING INSTRUMENTS 

Incorporated under The Building Societies Act, Consolidated Statutes of Upper Canada, 
c. 53, by declaration filed in the office of the Clerk of the Peace for the County of Middlesex, Sep- 
tember 26, 1870. The original corporate name was The Ontario Savings and Investment Society. 

By Order-in-Council of Ontario, dated October 4, 1879, and also by Order-in-Council of 
Canada, dated October 29, 1879, the corporate name was changed to The Ontario Loan and 
Debenture Company. 

The Company as now constituted was formed under the provisions of The Loan Corporations 
Act of Ontario by The Ontario Loan and Debenture Company, taking in by amalgamation the 
Agricultural Savings and Loan Company under Order-in-Council dated November 10, 1911, 
and operates under The Loan and Trust Corporations Act. 

By Order-in-Council of Ontario, dated March 12, 1930, 20,000 shares twenty per cent called 
and paid were converted into 4.000 shares fully paid, the authorized capital thereby being reduced 
from 100,000 to 84,000 shares. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Ontario (a) 

Ontario (b) 

Manitoba (a) 


$ c. 
63,950.47 
23,146,525.64 
4,011 49 


$ c. 


$ c. 

103.09 
1,496.06 
37.39 
3,818.75 

237.36 

536.55 


$ c. 
1,344.75 
81,797.54 
78.73 
810.83 
6,132.45 
6,316.33 


$ c. 
65,398.31 
23,229,819.24 
4,127.61 
73,720.08 
1,704,401.50 
1,474,598.74 


Saskatchewan (a) 

Alberta (b) 

British Columbia (b) 

Totals (a) 

Totals (b) 

Grand Totals 


68,780.00 
1,698,031.69 
1,467,745.86 


310.50 


136,741.96 
26,312,303.19 


310.50 


3,959.23 
2,269.97 


2,234.31 
94,246.32 


143,246.00 
26,408,819.48 


26,449,045.15 


310.50 


6,229.20 


96,480.63 


26,552,065.48 



24 



THE REPORT OF THE 



THE TORONTO MORTGAGE COMPANY 
Head Office, Toronto, Ont. 

Officers 

President, Gerard B. Strathy, Q.C.; Vice-President, George D. Kirkpatrick; Manager 
and Secretary, Charles J. Pettit; Treasurer, Oliver G. Burton. 

Directors 

Gerard B. Strathy, Q.C., George D. Kirkpatrick, Hon. Geo. S. Henry, E. Vaughan 
Chambers, Gerald Y. Ormsby, C.A., Walter B. Cowan, Q.C. 

Auditors 

Messrs. Clarkson, Gordon & Co., and Messrs. Lever & Hoskin. 



Capital Stock 

Amount of Capital Stock authorized (20,000 shares of $50.00 each) $ 1.000,000.00 

Amount subscribed and paid in cash 986,500.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Office premises $ 45,000.00 

Amount secured by mortgages on real estate including first mortgages 3,287,941.13 

(See Schedule B) 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 199,650.86 

(b) Provinces of Canada, including guarantees 120,915.34 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 16,830.67 

(d) All other bonds 14,250.00 351,646.87 

Book value of stocks 133,187.68 

Cash on hand 6,312.58 

Cash on deposit with chartered banks in Canada $152,907.96; 

elsewhere, $113.92 153,021.88 



Total Assets $ 3.977,110.14 



Liabilities 

To the Public 

Amount of debentures and debenture stock issued and outstanding: 

(a) Payable in Canada $ 1,080,451.62 

Interest due and accrued 14,020.00 $ 1,094,471.62 



(b) Payable elsewhere than in Canada $ 109,573.00 

Interest due and accrued 644.12 110,217.12 1,204,688.74 



Amount of money deposited with corporation 216,605.26 

Taxes other than taxes on real estate 59,934.08 

Dividends to shareholders declared and unpaid 29,595.00 



Total $ 1,510,823.08 



To Shareholders 

Paid-in capital $ 986,500.00 

Reserve fund 1,200.000.00 

Balance of Profit and Loss Account 279,787.06 



Total $ 2,466.287.06 



Total Liabilities 



$ 3.977.110.14 



1953 



REGISTRAR OF LOAN CORPORATIONS 



25 



THE TORONTO MORTGAGE COMPANY (Cont'd) 

REVENUE ACCOUNT 
Income 

Rents earned, net on office premises $ 9,690.80 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 194,611.61 

(b) Bonds and debentures 12,608.68 

(c) Dividends on stocks 16.842.96 

(d) Bank deposits .18 224,063.43 

All other revenue for the year 77,357.94 

Total $ 311.112,17 

Expenditure 

Interest incurred during the year on: 

(a) Debentures and debenture stock $ 38,218.55 

(b) Deposits 3,607.75 $ 41,826.30 

Loss on sale of securities and real estate 79.48 

License fees and taxes other than taxes on real estate : 

(a) Dominion $ 72,924.33 

(b) Municipal 575.67 73,500.00 

All other expenses incurred : 

(a) Salaries $ 14,071.90 

(b) Directors' fees 4,200.00 

(c) Auditors' fees 1,600.00 

(d) General Office Expenses 4,659.85 

(e) Rents 1,272.00 

(f) Commission on sale of debentures 217.86 

(g) Miscellaneous 3,343.50 29,365.11 

Net profit transferred to Profit and Loss Account 166,341.28 

Total $ 311,112.17 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 221,960.78 

Amount transferred from Revenue Account 166,341.28 

Total $ 388,302.06 

Dividends to shareholders declared during year . $ 108,515.00 

Balance of account at 31st December, 1952 279,787.06 

Total $ 388,302.06 



MISCELLANEOUS 

Rate of interest per annum paid by the Corporation: 

Average rate for vear — (a) debentures payable in Canada, 3.14%; (b) debentures payable 
elsewhere, 3.04%; (c) deposits, 1.77%. 

Current rate paid — (a) 3%%— 3, 4 or 5 years, (b) 3%% — 3 or 4 years, 4%— 5 years, (c) 2% 
minimum quarterly balance. 
Average rate of interest per annum earned by the Corporation during the year on — (a) mort- 
gages and agreements for sale of realty, 5.40%; (b) bonds and debentures, 3.60%; (c) stocks 
owned, 7.15%. 

Fidelity bonds on officers of the Corporation — Fidelity Insurance Company of Canada No. 

1723-50, January 1, 1956, Blanket Bond $25,000.00, all employees. 
Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 

January 1, April 1, July 1 and October 1 — 10% and bonus of 25c. a share paid January 1 

and July 1, 1952. 
Date appointed for the Annual Meeting — February 4, 1953. 
Date of last Annual Meeting — February 6, 1952. 

Amount of Company's own debentures and interest thereon, due and unpaid — $209.56. 



26 



THE REPORT OF THE 



THE TORONTO MORTGAGE COMPANY (Concl'd) 

CONSTATING INSTRUMENTS 

This Company was, under the provisions of The Loan Corporations Act, formed by the 
amalgamation of The Building and Loan Association with The Union Loan and Savings Company. 

The agreement for the amalgamation of these companies under the new corporate name of 
The Toronto Mortgage Company was executed by both companies on September 27, 1899; 
was ratified by the shareholders of the respective companies on November 15, 1899, and was 
assented to by the Lieutenant-Governor of the Province of Ontario by Order-in-Council, dated 
December 15, 1899. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 





Principal 






Province 


and 


Interest 






Charges 


Due and 


Totals 


(a) Farm (b) Urban 


Outstanding 


Unpaid 






$ c. 


$ c. 


$ c. 


Ontario (b) 


3,456,753.96 


2,195.12 


3,458,949.08 



II. TRUST COMPANIES 



DETAILED REPORTS OF THE SEVERAL 
CORPORATIONS 



[27] 



1953 



REGISTRAR OF LOAN CORPORATIONS 



29 



ADMINISTRATION AND TRUST COMPANY 
Head Office, Montreal, Que. 

Officers 

Chairman of the Board, E. L. Patenaude; President, Joseph Simard; Vice-Presidents, 
J. A. Brillant, Comte Cahen d'Anvers, J. Theo. Leclerc; General Manager, J. H. Chretien; 
Secretary, Jacques Geoffrion; Treasurer, Jacques St-Aubin. 

Directors 

E. L. Patenaude, Joseph Simard, J. A. Brillant, Comte Cahen d'Anvers, J. Theo. 
Leclerc, Edouard Asselin, Armand Daigle, Vicomte de Roumefort, J. C. H. Dussault, 
J. Emile Fortier, Wilfrid Gagnon, Col. Raoul Grothe, Edouard Labelle, Eugene 
poirier, rolland prefontaine, edouard slmard, p. h. bouffard. 

Branch Offices 

Vancouver, B.C.; Edmonton, Alta.; Regina, Sask.; Winnipeg, Man.; Ottawa, Ont.; Quebec, 

Que. 

Auditors 

courtois, fredette & cle. 



Capital Stock 

Amount of Capital Stock authorized (60,000 shares of $25.00 each) $ 1,500,000.00 

Amount subscribed (47,750 shares) 1,193,750.00 

Amount paid in cash 1,193,750.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 755,997.16 

Interest accrued 8,176.72 $ 764,173.88 

(See Schedule B) 

Amount of loans secured by stocks bonds and other collateral 150,485.01 

Book value of bonds debentures and debenture stocks: 
(a) Government of Canada including 

guarantees $ 281,093.50 

Interest accrued 1,576.00 $ 282,669.50 



(b) Provinces of Canada, including 

guarantees $ 163,205.00 

Interest accrued 784.84 $ 163,989.84 



(c) Canadian municipalities, school districts 

and rural telephone companies $ 112,859.00 

Interest accrued 618.00 $ 113,477.00 



(d) All other bonds $ 240,508.87 

Interest accrued 2,243.34 $ 242,752.21 



802,888.55 

Book value of stocks 247,844.61 

Cash on hand 2,979.60 

Cash on deposit with chartered banks in Canada, $74,719.09; 

elsewhere, $1.00 74,720.09 

Accrued interest in guaranteed funds 34,483.55 

Advances to estates trusts etc. under administration 93,913.95 

Accrued fees and charges for administering estates 160,948.85 

All other assets 18,465.27 



Total Company Funds $ 2,350,903.36 



30 



THE REPORT OF THE 



Guaranteed Funds 

Amount secured by mortgages on real estate $ 648,763.15 

(See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral 4,534,415.73 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 506,364.30 

ADMINISTRATION AND TRUST COMPANY (Cont'd) 

(b) Provinces of Canada, including 

guarantees $ 235,936.00 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 228,201.44 

(d) All other bonds $ 1,875,348.87 2,845,850.61 



Book value of stocks 10,000.00 

Cash on deposit with chartered banks in Canada 2,374,866.07 



Total Guaranteed Funds $10,413,895.56 



Estates, Trusts and Agency Funds 

Unrealized assets $ 8,657,087.97 

Investments 151,198,433.44 $159,855,521.41 



Summary of Assets 

Company Funds $ 2,350,903.36 

Guaranteed Funds 10,413,895.56 

Estates, Trusts and Agency Funds 159,855,521.41 



Grand Total of Assets $172,620,320.33 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 72,741.52 

Dividends to shareholders declared and unpaid 47,750.00 

Other expenses due and accrued 127,298.45 

All other liabilities 24,182.22 



Total $ 271,972.19 



To the Shareholders: 

Paid-in Capital $ 1, 193,750.00 

Reserve Fund 500,000.00 

General Contingency Reserve 135,359.04 

Balance of Profit and Loss Account 249,822.13 



Total $ 2,078,931.17 



Total Company Funds $ 2,350,903.36 



Guaranteed Funds 

Trust Deposits $ 10,413,895.56 

Total Guaranteed Funds $ 10,413,895.56 

Estates, Trusts and Agency Funds 

Estates $ 12,216,941.69 

Trusts and Agencies 147,544,665.77 

Due to Company Funds 93,913.95 159,855,521.41 



1953 REGISTRAR OF LOAN CORPORATIONS 31 



ADMINISTRATION AND TRUST COMPANY (Cont'd) 

Summary of Liabilities 

Company Funds $ 2,350,903.36 

Guaranteed Funds 10,4 13,895.56 

Estates, Trusts and Agency Funds 159,855,521.41 

Grand Total of Liabilities $172,620,320.33 



REVENUE ACCOUNT 
Income 

Interest and Dividends earned on: 

(a) Mortgages and agreements for sale $ 42,480.42 

(b) Collateral loans 4,264.52 

(c) Bonds and debentures 26,871.03 

(d) Dividends on stocks 8,143.06 

(e) Other interest earned 1,560.66 $ 83,319.69 

Profit on sale of securities and real estate 4,847.80 

Profit in guaranteed funds 171,917.34 

Agency fees and commissions earned 327,162.40 

All other revenue for the year 5,127.72 



Total $ 592,374.95 



Expenditure 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 89,723.81 

(b) Provincial 14,368.24 

(c) Municipal 5,359.08 $ 109,451.13 

All other expenses incurred : 

(a) Salaries $ 253,610.22 

(b) Directors' and Advisory Committee fees 3,555.00 

(c) Auditors' fees 5,575.00 

(d) Legal fees 3,638.65 

(e) Rents 26,642.34 

(f) Travelling expenses 5,643.05 

(g) Printing and stationery 7,099.59 

(h) Advertising 6,058.00 

(i) Postage, telegrams, telephones and express 10,915.89 

(j) Miscellaneous 40,205.65 362,943.39 

Net profit transferred to Profit and Loss Account 119,980.43 



Total $ 592,374.95 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 225,341.70 

Amount transferred from Revenue Account 119,980.43 

Total $ 345,322.13 

Dividends to shareholders declared during year $ 95,500.00 

Balance of account at December 31, 1952 249,822.13 

Total $ 345,322.13 



32 



THE REPORT OF THE 



ADMINISTRATION AND TRUST COMPANY (Concl'd) 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — United States Fidelity & Guaranty Co. No. 

02-508-50, September 21, 1953— all employees, $1,000,000.00. 
Dividends and bonuses declared during year— 1/1/52— $1.00; 7/1/52— $1.00. 
Date appointed for the Annual Meeting — February 28, 1953. 
Date of last Annual Meeting — February 28, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $1,319,604.26. 
Amount of fees paid to the Company from advances made by it during the year — $1,560.66. 

CONSTATING INSTRUMENTS 

Charter on the 26th day of March, 1902 (2 Edw. VII, Chap. 69), Quebec; amended (2 Geo. V, 
Chap. 103); amended (18 Geo. V, Chap. 118), Quebec; amended (13 Geo. VI, Chap. 16), Quebec. 

By an Act respecting the Administration and Trust Company, assented on March 31, 1950' 
14 Geo. VI, 1950, Chapter 90, of the Legislature of Ontario, and by a Certificate of Registry 
of the Province of Ontario, bearing number 36, for the term beginning on the 17th day of Julv, 
1950, and ending on the 30th day of June, 1951. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 




Principal 


Interest 




(a) Farm (b) Urban 




Outstanding 


Accrued 


Totals 


Company Funds 




$ c. 


$ c. 


$ c. 


Quebec 


• (b) 


748,721.57 


8,176.72 


756,898.29 


British Columbia 


■ (b) 


7,275.59 




7,275.59 






Totals 




755,997.16 


8,176.72 


764,173.88 


Guaranteed Funds 










Quebec 


■ (b) 


648,763.15 


8,675.93 


657,439.08 



1953 



REGISTRAR OF LOAN CORPORATIONS 



33 



THE BANKERS' TRUST COMPANY 
Head Office, Montreal, Que. 

Officers 

President, Ross Clarkson; Vice-Presidents, Jack Pembroke, C.B.E., W. E. Bickley; 
Manager, G. G. W. Goodwin; Secretary, Herbert Gilbert. 

Directors 

Ross Clarkson, Jack Pembroke, W. E. Bickley, E. D. Parker, G. G. W. Goodwin, 
W. E. Butler, J. A. Sutherland, G. B. Cranstoun, Herbert Gilbert, J. E. Peters. 

Auditors 

Riddell, Stead, Graham & Hutchison, C.A., Montreal. 

Branch Offices 

Branches— Montreal, Que.; Toronto, Ont.; Vancouver, B.C.; Winnipeg, Man. 
Agencies — Calgary, Alta.; Ottawa, Ont.; St. John, N.B. 

Capital Stock 

Amount of Capital Stock authorized (10,000 shares of $100.00 each) $1,000,000.00 

Amount subscribed 250,000.00 

Amount paid in cash 250,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 

Assets 

Company Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 257,831.12 

Interest accrued 3,210.77 $ 261,041.89 

(See Schedule B) 

Book value of bonds, debentures and debenture stocks: 

Government of Canada, including guarantees $ 76,249.92 

Interest accrued 750.00 $ 76,999.92 



Book value of stocks 1.00 

Cash on deposit 19,701.63 

All other assets 847.31 



Total Company Funds $ 358,591.75 



Estates, Trusts and Agency Funds 

Investments $ 10.00 

Cash on hand and in banks 49.00 $ 59.00 



Summary of Assets 

Company Funds $ 358,591.75 

Estates, Trusts and Agency Funds 59.00 



Grand Total Assets $ 358,650.75 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 13,595.82 

Other expenses due and accrued 100.00 

Investment reserves 12,799.75 



Total $ 26,495.57 



To the Shareholders: 

Paid-in Capital $ 250,000.00 

Reserve Fund 50,000.00 

Balance of Profit and Loss Account 32,096.18 



Total $ 332,096.18 



Total Company Funds $ 358,591.75 



34 



THE REPORT OF THE 



THE BANKERS' TRUST COMPANY (Cont'd) 

Estates, Trust and Agency Funds 
Estates, Trusts and Agencies $ 59.00 



Summary of Liabilities 

Company Funds $ 358,591.75 

Estates, Trusts and Agency Funds 59.00 



Grand Total of Liabilities $ 358,650.75 



REVENUE ACCOUNT 
Income 

Interest and Dividends earned on: 

(a) Mortgages and agreements for sale $ 12,355.22 

(b) Bonds and debentures 2,093.76 

(c) Dividends on stocks 2,709.75 $ 17,158.73 

Agency fees and commissions earned 13,463.43 

Total $ 30,622.16 



Expenditure 

License fees and taxes other than taxes on real estate: 



(a) Dominion $ 14,274.00 

(b) Provincial 1,139.35 $ 15,413.35 



All other expenses incurred: 

(a) Directors' and Advisory Committee fees $ 50.00 

(b) Auditors' fees 155.00 

(c) Miscellaneous .70 205.70 



Net profit transferred to Profit and Loss Account 15,003.11 



Total $ 30,622.16 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 32,093.07 

Amount transferred from Revenue Account 15,003.11 

Total $ 47,096.18 

Dividends to shareholders declared during year $ 15,000.00 

Balance of account at December 31, 1952 32,096.18 

Total $ 47,096.18 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Guarantee Company of North America — Primary 
Commercial Blanket Bond, 875816, March 20, 1955— all employees— coverage, $100,000. 

Dividends and bonuses declared during year — February 20, 1952, 6%; payable in quarterly 
instalments, March, June, September and December. 

Date appointed for the Annual Meeting — third Wednesday in February. 

Date of last Annual Meeting— February 20, 1952. 



CONSTATING INSTRUMENTS 

Incorporated May 20, 1905, by special Act of the Legislature of Quebec, 5 Edward VII, 
chap. 78. 

Amendments to charter: 9 Edward VII, chap. 114, May 7, 1909 ; 5 George V, chap. 125, 
March 5, 1915; 7 George V, chap. 102, December 22, 1916; 9 George V, chap. 125, March 4, 1919. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



35 



THE BANKERS' TRUST COMPANY (Concl'd) 

Authorized by special Act of the Legislature of Ontario, 10-11 George V, chap. 156, June 4, 
1920, to transact business therein as specified in Section 5 of the said Act, which enacts as follows: 
"(5) The company shall be limited in respect of all business relating to property and 
civil rights or provincial objects in the Province of Ontario, to the powers mentioned in 
the schedules to The Loan and Trust Corporations Act, and shall be subject to the general 
provisions of the said Act and of the general public law of the said Province relating to trust 
companies and trusts." 

The company has a deposit in the Province of Ontario amounting to $50,000.00. Order-in- 
Council assented to August 23, 1934. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 




Principal 


Interest 








Outstand- 


Accrued 


Totals 


(a) Farm (b) Urban 




ing 






Company Funds 




$ c. 


$ c. 


$ c. 


New Brunswick 


■ (b) 


9,500.00 


197.55 


9,697.55 


Quebec 


■ (a) 


5,500.00 


15.75 


5,515.75 


Quebec 


(b) 


242,831.12 


2,997.47 


245,828.59 


Totals 


(a) 


5,500.00 


15.75 


5,515.75 


Totals 


(b) 


252,331.12 


3,195.02 


255,526.14 


Grand Totals 




257,831.12 


3,210.77 


261,041.89 



36 



THE REPORT OF THE 



BARCLAYS TRUST COMPANY OF CANADA 
Head Office, Montreal, Que. 

Officers 

President, Harold A. Stevenson; Manager, C. D. Paxton; Secretary-Treasurer, H. Chapman. 

Directors 

H. A. Stevenson, J. S. Crossley, W. S. M. MacTier, M.C., J. H. G. F. Vale, A. H. 
Elder, Q.C., F. E. K. Udell. 

Auditors 

Riddell, Stead, Graham & Hutchison. 

Branch Offices 
Charlottetown, P.E.I. ; Toronto, Ont. 

Capital Stock 

Amount of Capital Stock authorized (5,000 shares of $100 each) $ 500,000.00 

Amount subscribed 500,000.00 

Amount paid in cash 500,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Amount secured by mortgages on real estate including first mortgages $ 204,305.63 

Amount of loans secured by stocks, bonds and other collateral 230,946.42 

Book value of bonds, debentures and debenture stocks: 

Government of Canada, including guarantees 400,000.00 

Advances to estates, trusts, etc., under administration 145,830.73 

All other assets 8,994.16 



Total Company Funds $ 990,076.94 



Guaranteed Funds 
Amount secured by mortgages on real estate including: 
First mortgages $ 97,241.88 

Interest accrued 491.20 $ 97,733.08 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral 13,539.50 

Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $ 751,647.50 

Interest accrued 2,182.19 $ 753,829.69 



(b) Provinces of Canada, including 

guarantees $ 183,892.50 

Interest accrued 2,623.29 186,515.79 



(c) Canadian Municipalities, school districts 

and rural telephone companies $ 111,285.00 

Interest accrued 545.83 111 ,830.83 



(d) All other bonds $ 100,000.00 

Interest accrued 1,563.01 101,563.01 1,153,739.32 



Total Guaranteed Funds $ 1,265,011.90 

Estates, Trusts and Agency Funds 

Unrealized assets and investments $13,989,286.00 

Cash on hand and in banks 331,967.06 $14,321,253.06 



Summary of Assets 

Company Funds $ 990,076.94 

Guaranteed Funds 1,265.011.90 

Estates, Trusts and Agency Funds 14,321,253.06 



Grand Total of Assets $16,576,341.90 



1953 



REGISTRAR OF LOAN CORPORATIONS 



37 



BARCLAYS TRUST COMPANY OF CANADA (Cont'd) 

Liabilities 

Company Funds 

To the Public: 

Money borrowed from banks without security $ 466,488.17 

Taxes other than taxes on real estate 3,371.30 

Other expenses due and accrued 8,73;'. 72 

All other liabilities 4,750.00 



Total $ 483,347.19 



To the Shareholders: 

Paid-in Capital $ 500,000.00 

Balance of Profit and Loss Account 6,729.75 



Total $ 506,729.75 



Total Company Funds $ 990,076.94 



Guaranteed Funds 

Trusts deposits $ 1,113,375.15 

Interest due and accrued 1,286.19 $ 1,114,661.34 



General Guaranteed Funds 150,000.00 

Due to Company funds 350.56 



Total Guaranteed Funds $ 1,265,011.90 



Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $14,175,422.33 

Due to Company Funds 145,830.73 $14,321,253.06 



Summary of Liabilities 

Company Funds $ 990,076.94 

Guaranteed Funds 1,265,011.90 

Estates, Trusts and Agency Funds $14,321,253.06 



Grand Total of Liabilities $16,576,341.90 



REVENUE ACCOUNT 
Income 

Interest and Dividends earned on : 

(a) Mortgages and agreements for sale $ 6,475.49 

(b) Collateral loans 14,728.00 

(c) Bonds and debentures 12,000.00 $ 33,203.49 



Profit in guaranteed funds 4,097.12 

Agency fees and commissions earned 92,666.09 



Total $ 129,966.70 



Expenditure 

Interest incurred $ 4,684.09 

License fees and taxes other than taxes on real estate: 

(a) Provincial $ 3,097.71 

(b) Municipal 1,938.09 5,035.80 



38 



THE REPORT OF THE 



BARCLAYS TRUST COMPANY OF CANADA (Concl'd) 



All other expenses incurred : 

(a) Salaries $ 76,197.53 

(b) Directors' and Advisory Committee fees 4,653.90 

(c) Auditors' fees 5,750.00 

(d) Legal fees 184.50 

(e) Rents 6,200.00 

(f) Travelling expenses 1,806.47 

(g) Printing and stationery 3,452.91 

(h) Advertising 4,400.31 

(i) Postage, telegrams, telephones and express 2,475.99 

(j) Maintenance of Office Premises 1,276.11 

(k) Miscellaneous 13,752.87 120,150.59 



Net profit transferred to Profit and Loss Account 96.22 



Total $ 129,966.70 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 6,633.53 

Amount transferred from Revenue Account 96.22 



Total $ 6,729.75 



Balance of account at December 31, 1952 $ 6,729.75 



Total $ 6,729.75 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Lloyds Underwriters, Cover Note 99241 issued 
by Fairfield Ellis & Grant Ltd.; Bankers Blanket Bond: Principal Amount 150,000 (no 
deductible); covers all officers and employees; expires September 30, 1955. 

Date appointed for the Annual Meeting — February 24, 1953. 

Date of last Annual Meeting — February 26, 1952. 

CONSTATING INSTRUMENT 

Special Act: 3rd Session, 23rd Legislature, Ontario; 15 George VI, 1951. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstanding 


Interest 
Accrued 


Totals 


Company Funds 
Quebec 


■ (b) 


204,305.63 




204,305.63 


Guaranteed Funds 
Ontario 


■ ■(b) 


97,241.88 


491.20 


97,733.08 


Grand Total 




301.547.51 


491.20 


302,038.71 





1953 



REGISTRAR OF LOAN CORPORATIONS 



39 



THE BRITISH MORTGAGE AND TRUST CORPORATION 

OF ONTARIO 

Head Office, Stratford, Ont. 

Officers 

President, L. M. Johnston; Vice-Presidents, W. H. Gregory, Dr. H. W. Baker; Manager and 
Secretary-Treasurer, W. H. Gregory. 

Directors 

L. M. Johnston, W. H. Gregory, Dr. H. W. Baker, C. E. Moore, A. B. Manson, Dr. H. B. 
Kenner, W. P. Gregory. 

Auditors 

H. J. Welch, F.C.A., and G. D. Campbell, F.C.A., Toronto, Ontario. 



Capital Stock 

Amount of Capital Stock authorized (50,000 shares of $100.00 each) $ 5,000,000.00 

Amount subscribed 1,000,000.00 

Amount paid in cash 1 ,000,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises $ 38,295.86 

Book value of real estate held for sale — freehold land (including buildings) 1.00 

Amount secured by mortgages on real estate including first mortgages 1,937,869.66 

(See Schedule B) 
Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 60,378.12 

(b) Canadian municipalities, school districts and rural tele- 
phone companies 26,485.00 86,863.12 

Book value of stocks 66,876.00 

Cash on hand 47,793.72 

Cash on deposit with chartered banks in Canada 116,232.38 



Total Company Funds $ 2,293,931.74 



Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages $11,102,078.20 

Agreements for sale 131,914.60 $11,233,992.80 

(See Schedule B) 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 1,958,462.64 

(b) Provinces of Canada, including guarantees 449,474.58 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 32,538.20 $ 2,440,475.42 



Cash on hand 36,139.63 

Cash on deposit with chartered banks in Canada 259,180.50 



Total Guaranteed Funds $13,969,788.35 



Unrealized assets 

Investments 

Cash on hand and in banks 



Estates, Trusts and Agency Funds 

$ 



646,995.66 
459,772.54 
84,414.48 $ 1,191,182.68 



40 THE REPORT OF THE 



the british mortgage and trust corporation of ontario (cont'd) 
Summary of Assets 

Company Funds $ 2,293,931.74 

Guaranteed Funds 13,969,788.35 

Estates, Trusts and Agency Funds 1,191,182.68 



Grand Total of Assets $17,454,902.77 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 73,218.96 

Dividends to shareholders declared and unpaid 60,000.00 

All other liabilities 1 ,037.48 



Total $ 134,256.44 



To the Shareholders: 

Paid-in Capital $ 1,000,000.01 

Reserve Fund 1 ,000,000.00 

Balance of Profit and Loss Account 159,675.30 



Total $ 2,159,675.30 



Total Company Funds $ 2,293,931.74 



Guaranteed Funds 

Trust deposits $ 6,240,587.59 

General Guaranteed Funds $ 7,663,126.09 

Interest due and accrued 66,074.67 7,729,200.76 



Total Guaranteed Funds $13,969,788.35 



Estates, Trusts and Agency Funds 
Estates $ 941,943.74 

Trusts and Agencies .' .' .' .' '. '. .' .' .' '. '. '. '. 249!238.'94 $ 1,191,182.68 



Summary of Liabilities 

Company Funds $ 2,293,931.74 

Guaranteed Funds 13,969,788.35 

Estates, Trusts and Agency Funds 1,191,182.68 



Grand Total of Liabilities $17,454,902.77 



REVENUE ACCOUNT 
Income 

Interest and Dividends earned on: 

(a) Mortgages and agreements for sale $ 107,413.13 

(b) Bonds and debentures 3,128.71 

(c) Dividends on stocks 16,280.00 $ 126,821.84 



Profit on sale of securities and real estate 47,612.00 

Profit in guaranteed funds 260,482.39 

Agency fees and commissions earned 8,267.21 

All other revenue for the year 5,858.61 

Transfers from Investment Reserves 62,938.00 



Total $ 511,980.05 



1953 REGISTRAR OF LOAN CORPORATIONS 


41 


THE BRITISH MORTGAGE AND TRUST CORPORATION OF ONTARIO (Cont'd) 


Expenditure 






License fees and taxes other than taxes on real estate: 

(a) Dominion $ 

(b) Provincial 

(c) Municipal 


140,000.00 
1,345.56 
930.00 $ 


142,275.56 


Commissions on loans and on sale of real estate 

Amount transferred to Investment Reserves 




21,738.25 
67,938.00 


All other expenses incurred : 

(a) Salaries $ 

(b) Directors' and Advisory Committee fees 

(c) Auditors' fees and Votes of Shareholders 

(d) Legal fees 

(f) Printing and stationery 

(h) Postage, telegrams, telephones and express 

(i) Commission on Sale of G.I. Certificates 

(j) Maintenance of Office Premises 

(k) Miscellaneous 


74,044.53 
10,675.00 
6.400.00 
741.00 

QRQ CIO 

5,570.88 

r; QCI9 1 A 

3,481.74 
5,564.10 
6,506.29 
40,513.84 


159,209.02 


Net profit transferred to Profit and Loss Account 




120,819.22 


Total 


cr» 

9 


511,980.05 


PROFIT AND LOSS ACCOUNT 






Balance brought forward from previous year 

Amount transferred from Revenue Account 


$ 


158,856.08 
120,819.22 


TV\f A T 


it> 


97Q cm. Qfl 


Balance of account at December 31, 1952 




i ?o ooo no 
159,675.30 


Total 


$ 


279,675.30 


MISCELLANEOUS 






Fidelity bonds on officers of the Corporation— all salaried officers and employees covered by 
Bankers' Blanket Bond No. C.S. 793 for $100,000.00 in Indemnity Insurance Company of 
North America dated September 30, 1948. 

Dividends and bonuses declared during year — declared June 2, 1952 — payable July 2, 1952 
dividend at 4% regular, anniversary extra 2%, payable October 6, 1952; declared December 
1, 1952 — payable January 2, 1953, dividend at 4% regular and extra 2%. 

Date appointed for the Annual Meeting — Thursday, February 12, 1953. 

Date of last Annual Meeting — Thursday, February 14, 1952. 

Amount of interest permanently capitalized during the year (Company Funds, $219.55; Guaran- 
teed Funds a/c $325.08)— $544.63. 



Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $84 ,414.48. 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpaid— principal, $21,350.00; interest, $18,023.35; total, $39,373.35. 



CONSTATING INSTRUMENTS 

The British Mortgage Loan Company of Ontario was incorporated by Letters Patent of 
Ontario, dated October 5, 1877 (Lib. 5, No. 52), issued under R.S.O. 1877, c. 150, which Act was 
continued by R.S.O. 1887, c. 157, and was as to Loan Corporations superseded by 60 Vic, c. 38 
O), now R.S.O. 1937, c. 257. 

By 16 George V, c. 121, the Company was given trust company powers and its name changed 
to The British Mortgage and Trust Corporation of Ontario. 

The lending and the borrowing powers of the Company are derived from its Letters Patent 
and the above public general statute. 



42 



THE REPORT OF THE 



THE BRITISH MORTGAGE AND TRUST CORPORATION OF ONTARIO (Concl'd) 

SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstanding 


Charges 
Outstanding 


Totals 


Company Funds 

Ontario {a) 

Ontario (b) 

Guaranteed Funds 

Ontario (a) 

Ontario (b) 


$ c. 

4o,oUU.UU 
2,237,408.37 

59,650.00 
11,174,338.10 


$ c. 
99.29 

4.70 


$ c. 

4o,d0U.0U 
2,237,507.66 

59,654.70 
11,174,338.10 


Totals (a) 

Totals (b) 

Grand Totals 




104,950.00 
13,411,746.47 


4.70 
99.29 


104,954.70 
13,411,845.76 


13,516,696.47 


103.99 


13,516,800.46 



1953 



REGISTRAR OF LOAN CORPORATIONS 



43 



THE BROCKVILLE TRUST AND SAVINGS COMPANY 
Head Office, Brockville, Ont. 

Officers 

President, J. G. Gardner; Vice-President, G. T. Fulford, M.P.; Managing Director, E. J. 
Smith; Secretary, A. E. Hetherington; Treasurer, N. F. Robinson. 

Directors 

J. G. Gardner, G. T. Fulford, M.P., A. G. Parish, Q.C., Hon. H. A. Stewart, Q.C., 
E. C. Cossitt, George M. Rogers, F. I. Ritchie, J. M. Dobbie, E. J. Smith. 

Auditors 

Arthur A. Crawley and Company, Fulford Building, Brockville, Ontario. 



Capital Stock 

Amount of Capital Stock authorized (20,000 shares of $50.00 each) $ 1,000,000.00 

Amount subscribed 600,000.00 

Amount paid in cash 600.000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises $ 47,013.84 

Amount secured by mortgages on real estate including: 

First Mortgages $ 798,829.71 

Agreements for sale 3,491.39 

Interest due 917.55 

Interest accrued 9,866.70 813,105.35 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral: 

Principal $ 10,097.50 

Interest accrued 200.90 10,298.40 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guar- 
antees $ 9,975.00 

Interest accrued 49.30 $ 10,024.30 

(b) Provinces of Canada, including guaran- 
tees $ 124,624.11 

Interest accrued 369.95 124,994.06 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 14,775.00 

Interest accrued 120.30 14,895.30 149,913.66 

Book value of stocks 5,772.03 

Cash on hand 8,000.00 

Advances to estates, trusts, etc., under administration 2,500.00 

All other assets 2,303.42 

Total Company Funds $ 1,038,906.70 

Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 1,665,027.82 

Interest due 3,342.62 

Interest accrued 22,953.05 1,691,323.49 

(See Schedule B) 



44 



THE REPORT OF THE 



THE BROCK VILLE TRUST AND SAVINGS COMPANY (Cont'd) 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guar- 
antees $ 49,698.99 

Interest accrued 369.85 50,068.84 

(b) Provinces of Canada, including guar- 
antees $ 186,609.71 

Interest due 249.85 

Interest accrued 1,307.95 188,167.51 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 48,145.85 

Interest accrued 577.00 48,722.85 286,959.20 

Cash on deposit with chartered banks in Canada 164,441.87 

Total Guaranteed Funds $ 2,142,724.56 

Estates, Trusts and Agency Funds 

Unrealized assets $ 1,745,757.92 

Investments 758,213.03 

Cash on hand and in banks 185,580.58 $ 2,689,551.53 

Summary of Assets 

Company Funds $ 1,038,906.70 

Guaranteed Funds 2,142,724.56 

Estates, Trusts and Agency Funds 2,689,551.53 

Grand Total of Assets $ 5,871,182.79 



Liabilities 

Company Funds 



To the Public: 

Money borrowed from banks — with security $ 356.91 

Taxes other than taxes on real estate 25,081.65 

Dividends to shareholders declared and unpaid 13,500.20 

Investment reserves 50,000.00 

All other liabilities 10,000.00 



Total $ 98,938.76 



To the Shareholders: 

Paid-in Capital $ 600,000.00 

Reserve Fund 300,000.00 

Balance of Profit and Loss Account 39,967.94 



Total $ 939,967.94 

Total Company Funds $ 1,038,906.70 

Guaranteed Funds 

Trust deposits $ 1,406,363.74 

General Guaranteed Funds $ 726,600.00 

Interest due and accrued 9,760.82 736,360.82 

Total Guaranteed Funds $ 2,142,724.56 

Estates, Trusts and Agency Funds 

Estates $ 2,687,051.53 

Due to Company Funds 2,500.00 $ 2,689,551.53 



1953 



REGISTRAR OF LOAN CORPORATIONS 



45 



THE BROCKVILLE TRUST AND SAVINGS COMPANY (Cont'd) 

Summary of Liabilities 

Company Funds $ 1,038,906.70 

Guaranteed Funds 2,142,724.56 

Estates, Trusts and Agency Funds 2,689,551.53 

Grand Total of Liabilities $ 5,871,182.79 



REVENUE ACCOUNT 
Income 

Rents earned, net — on office premises $ 2,434.25 

Interest and Dividends earned on: 

(a) Mortgages and agreements for sale $ 43,400.48 

(b) Collateral loans 330.96 

(c) Bonds and debentures 6,248.95 

(d) Dividends on stocks 360.00 

(e) Other interest earned 37.50 $ 50,377.89 

Profit in guaranteed funds 60,577.77 

Agency fees and commissions earned 26,192.42 

All other revenue for the year 1,913.85 



Total $ 141,496.18 



Expenditure 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 39,300.00 

(b) Municipal 795.50 $ 40,095.50 

Commissions on loans and on sale of real estate 3,138.59 

All other expenses incurred : 

(a) Salaries $ 30,872.12 

(b) Directors' and Advisory Committee fees 1,850.00 

(c) Auditors' fees 1,500.00 

(d) Legal fees 10.43 

(e) Rents 2,0C0.00 

(f) Travelling expenses 759.59 

(g) Printing and Stationery 2,289.28 

(h) Advertising 983.13 

(i) Postage, telegrams, telephones and express 815.67 

(j) Maintenance of office premises 1,292.47 

(k) Miscellaneous 8,294.19 50,666.80 

Net profit transferred to Profit and Loss Account 47,595.21 

Total $ 141,496.18 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 30,758.64 

Amount transferred from Revenue Account 47,595.21 



Total $ 78,353.85 



Dividends to shareholders declared during year $ 36,000.00 

Employees' Benefit Fund 2,385.91 

Balance of account at December 31, 1952 39,967.94 



Total $ 78,353.85 



46 



THE REPORT OF THE 



THE BROCKVILLE TRUST AND SAVINGS COMPANY (Conel'd) 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — United States Fidelity & Guarantee Company, 
expiry date October 12, 1954, $500,000.00; covers all employees, No. 02-2075-51. 

Dividends and bonuses declared during year giving (a) dates declared, (b) dates payable, (c) rates: 
(a) March 18, 1952 (b) April 1, 1952 (c) 62J^c. per share 

(a) June 17, 1952 (b) July 2, 1952 (c) 623^c. per share 

(a) September 16, 1952 (b) October 1, 1952 (c) 62^c. per share 

(a) December 16, 1952 (b) January 2, 1953 (c) 62 y 2 c. and 50c. 

Date appointed for the Annual Meeting — February 11, 1953. 

Date of last Annual Meeting— February 13, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $35,950.00. 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpaid— $10,481.50. 

CONSTATING INSTRUMENTS 

Incorporated by declaration filed May 11, 1885, with the Clerk of the Peace for the United 
Counties of Leeds and Grenville. The declaration was made by virtue of "The Building Societies 
Act," R.S.O. 1877, c. 164, continued by R.S.O. 1887, c. 169, and superseded by 60 Vic, c. 38 (O), 
now R.S.O. 1897, c. 205. See R.S.O. 1937, c. 257. 

The lending and borrowing powers are derived from the above public General Acts. 

By a Special Act of the Legislature of Ontario, 19 Geo. V, c. 130, the Company was granted 
the powers of a trust company and its authorized capital stock was increased from $500,000 to 
$1,000,000. Its name was changed to The Brockville Trust and Savings Company. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Company Funds 

Ontario (a) 

Ontario ! (b) 

Guaranteed Funds 
Ontario (a) 


$ c. 
9,829.59 
792,452.83 

23,256.80 
1,641,568.01 


$ c. 
38.68 


$ c. 
40.00 
877.55 


$ c. 
92.50 
9,774.20 

407.15 
22,545.90 


$ c. 
9,962.09 
803,143.25 

23,663.95 
1,667,659.54 


Ontario (b) 

Totals (a) 

Totals (b) 

Grand Totals 


203.01 


3,342.62 


33,086.39 
2,434,020.84 


241.69 


40.00 
4,220.17 


499.65 
32,320.10 


33,626.04 
2,470,802.80 


2,467,107.23 


241.69 


4,260.17 


32,819.75 


2,504,428.84 



1953 



REGISTRAR OF LOAN CORPORATIONS 



47 



THE CANADA PERMANENT TRUST COMPANY 
Head Office, Toronto, Ont. 

Officers 

President and General Manager, T. D'Arcy Leonard, Q.C.; Vice-Presidents, Charles S. 
Robertson, Roy L. Warren, Leigh M. McCarthy; Secretary, Walter F. Watkins. 

Directors 

T. D'Arcy Leonard, Q.C., Charles S. Robertson, Roy L. Warren, Leigh M. McCarthy, 
Samuel Rogers, Q.C., John A. MacAulay, Q.C., Henry W. Manning, Henry S. Gooderham, 
Hon. C. J. Burchell, P.C., Q.C., G. Harold Aikins, Q.C., E. L. MacDonald, Joseph M. 
Pigott, C.B.E., K.C.S.G., Harry M. Patterson, Cyril F. H. Carson, Q.C., L. G. Gillett, 
John G. Parker, Clifford Sifton. 

Auditors 

Kris A. Mapp, F.C.A., of Henry Barber, Mapp & Mapp; H. P. Herington, F.C.A., of 
Price, Waterhouse & Co. 

Branch Offices 

Toronto, Ont.; Winnipeg, Man.; Vancouver, B.C.; St. John, N.B.; Edmonton, Alta.; Regina, 
Sask.; Woodstock, Ont.; Halifax, N.S.; Brantford, Ont.; Hamilton, Ont.; Montreal, Que.; Port 
Hope, Ont.; Victoria, B.C. 

Capital Stock 

Amount of Capital Stock authorized (50,000 shares of $100.00 each) $ 5,000,000.00 

Amount subscribed 2,000,000.00 

Amount paid in cash 2,000,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 1,434,517.49 

Interest due 90.00 $ 1,434,607.49 

(See Schedule B.) 

Amount of loans secured by stocks, bonds and other collateral: 

Principal $ 45,336.92 

Interest due 154.92 45,491.84 

Book value of bonds and debentures: 

(a) Government of Canada, including 

guarantees $ 583,033.84 

Interest accrued 5,119.49 $ 588,153.33 

(b) Provinces of Canada, including 

guarantees $ 262,649.76 

Interest accrued 2,745.89 265,395.65 

(c) All other bonds $ 421,317.53 

Interest accrued 3,542.85 424,860.38 1,278,409.36 



Book value of stocks $ 527,978.47 

Accrued dividends thereon 1,365.75 529,344.22 

Cash on deposit with chartered banks in Canada, $374.98; 

elsewhere in Canada, $171,378.86 171,753.84 

Advances to estates, trusts, etc., under administration 2,507.46 

All other assets 43,095.98 

Total Company Funds $ 3,505,210.19 



48 



THE REPORT OF THE 



THE CANADA PERMANENT TRUST COMPANY (Cont'd) 

Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 642,121.01 

Interest due 1,865.92 

Interest accrued 155.33 $ 644,142.26 

(See Schedule B.) 

Book value of bonds, debentures: 

All other bonds $ 1,350,000.00 

Interest accrued 7,446.60 1,357,446.60 

Cash on deposit with chartered banks in Canada, $50,073.66; 

elsewhere in Canada, $8,597.97 58,671.63 

Total Guaranteed Funds $ 2,060,260.49 

Estates, Trusts and Agency Funds 

Unrealized assets $61,162,735.66 

Investments 34,637,828.20 

Cash on hand and in banks 7,741,392.48 $103,541,956.34 

Summary of Assets 

Company Funds $ 3,505,210.19 

Guaranteed Funds 2,060,260.49 

Estates, Trusts and Agency Funds 103,541,956.34 

Grand Total of Assets $109,107,427.02 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 95,000.00 

Dividends to shareholders declared and unpaid 30,000.00 

Investment reserves 286,606.25 

All other liabilities 25,000.00 



Total $ 436,606.25 



To the Shareholders: 

Paid-in Capital $ 2,000,000.00 

Reserve Fund 1 ,000,000.00 

Balance of Profit and Loss Account 68,603.94 



Total $ 3,068,603.94 



Total Company Funds $ 3,505,210.19 



Guaranteed Funds 

General Guaranteed Funds $ 2,042.377.63 

Interest due and accrued 17,882.86 $ 2,060,260.49 



Total Guaranteed Funds $ 2,060,260.49 



Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $103,539,448.88 

Due to Company Funds , 2,507.46 $103,541,956.34 

Summary of Liabilities 

Company Funds $ 3,505.210.19 

Guaranteed Funds 2,060.260.49 

Estates, Trusts and Agency Funds 103,541.956.34 

Grand Total of Liabilities $109,107,427.02 



1953 



REGISTRAR OF LOAN CORPORATIONS 



49 



THE CANADA PERMANENT TRUST COMPANY (Cont'd) 

REVENUE ACCOUNT 
Income 

Interest and Dividends earned on : 

(a) Mortgages $ 62,840.03 

(b) Collateral loans 1,466.38 

(c) Bonds and debentures 39,365.78 

(d) Dividends on stocks 31,864.06 

(e) Bank deposits 709.26 

(f) Other interest earned 272.32 $ 136,517.83 

Profit in guaranteed funds 14,735.99 

Agency fees and commissions earned 792,340.75 

All other revenue for the year 38,860.70 

Total $ 982,455.27 

Expenditure 

Amount by which ledger values of assets were written down $ 7,864.53 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 119,636.09 

(b) Provincial 5,086,29 

(c) Municipal 13,994.65 138,717.03 

Commissions on loans 2.25 

All other expenses incurred : 

(a) Salaries (including living allowances) $ 486,123.95 

(b) Directors' fees 5,100.00 

(c) Auditors' fees 11,975.00 

(d) Legal fees 1,552.26 

(e) Rents 44,349.98 

(f) Travelling expenses 11,460.64 

(g) Printing and stationery 20,568.16 

(h) Advertising 23,720.47 

(i) Postage, telegrams, telephones and express 10,213.41 

(j) Miscellaneous 106,932.38 721,996.25 

Net profit transferred to Profit and Loss Account 113,875.21 

Total $ 982,455.27 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 74,728.73 

Amount transferred from Revenue Account 113,875.21 

Total $ 188,603.94 

Dividends to shareholders declared during year $ 120,000.00 

Balance of account at December 31, 1952 68,603.9 1 

Total $ 188,603.94 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation— Bankers' Blanket Bond No. 0143 of Dominion of 
Canada General Insurance Company for $200,000 on any one person, and covering all 
members of staff, expires May 25, 1954. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) January 18, 1952 (b) April 1, 1952 (c) W 2 % 

(a) June 25, 1952 (b) July 2, 1952 (c) \y 2 % 

(a) June 25, 1952 (b) October 1, 1952 (c) \y>% 

(a) October 22, 1952 (b) January 2, 1953 (c) VA% 

Date appointed for the Annual Meeting— January 20, 1953. 

Date of last Annual Meeting— January 18, 1952. 

Amount of interest permanently capitalized during the year— $634.37. 

Amount belonging to Estates, Trusts and Agencies on deposit with Canada Permanent Mortgage 
Corporation— $7,377,636.48. 



50 



THE REPORT OF THE 



THE CANADA PERMANENT TRUST COMPANY (Concl'd) 

CONSTATING INSTRUMENTS 

The Canada Permanent Trust Company was incorporated in 1913 by a Special Act of 
Parliament of the Dominion of Canada, 3-4 Geo. V, c. 87. 

Authorized by Order-in-Council (May 7, 1913) to carry on business in the Province of Ontario 
as a Trust Company, pursuant to the provisions of The Loan and Trust Corporations Act, R.S.O. 
1927, c. 223. 

In 1927 the Company purchased the assets and business of The Brantford Trust Company, 
which purchase was ratified by Order-in-Council of Ontario, dated August 31, 1927, pursuant 
to The Loan and Trust Corporations Act. 

In 1949 the Company purchased the assets and business of the General Trust and Executor 
Corporation, Halifax, N.S. 

SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 

(a) Farm 

(b) Urban 


Princtpat 
Outstand- 
ing 


CHARfiF^ 

Outstand- 
ing 


Tmtfrfst 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Amount of 
Interest 

Due 
and Not 
Charged 


rOMPAMY P*TTMn^ 
V^^/ivli J\L\ I 1 UlNL/o 

Ontario (a) 


$ c 
4,325.00 
519,892.34 
11,906.92 
76,939.22 
22,356.34 
6,000.00 
3,597.00 
788,420.21 


<K r 
<J> c. 


if) 

90.00 




4,415.00 
520,372.80 
11,906.92 
76,939.22 
22,356.34 
6,000.00 
3,597.00 
789,020.21 




Ontario (b) 


480.46 




3,903.46 


Manitoba (b) 






British Columbia (b) 
Alberta (b) 


















Saskatchewan ...(&) 
Nova Scotia (a) 
















202.82 
4,696.32 


Nova Scotia (b) 


600.00 






Totals (a) 






7,922.00 
1,425,515.03 




90.00 




8,012.00 
1,426,595.49 


202.82 
8,599.78 


Totals (b) 


1,080.46 




Totals Company 
Funds 






1,433,437.03 


1,080.46 


90.00 




1,434,607.49 


8,802.60 


Guaranteed 
Funds 
Ontario (b) 


10,600.00 
631,436.63 




49.50 
1,816.42 


155.33 


10,804.83 
633,337.43 




Nova Scotia (b) 


84.38 




Totals Guaran- 
teed Funds . . . 

Grand Total. . 






642,036.63 


84.38 


1,865.92 


155.33 


644,142.26 






2,075,473.66 


1,164.84 


1,955.92 


155.33 


2,078,749.75 


8,802.60 



1953 



REGISTRAR OF LOAN CORPORATIONS 



51 



THE CANADA TRUST COMPANY 
Head Office, London, Ont. 

Officers 

Chairman of the Board, Col. Ibbotson Leonard, D.S.O.; President and General Manager, 
M. Aylsworth; Vice-Presidents, Hon. Ray Lawson, O.B.E., LL.D., D.C.N.L., Rt. Hon. 
Arthur Meighen, Q.C., P.C.; Secretary, J. P. Collyer; Treasurer, R. P. Baker. 

Directors 

Col. I. Leonard, D.S.O., M. Aylsworth, Hon. Ray Lawson, O.B.E., LL.D., D.C.N.L., 
Rt. Hon. A. Meighen, Q.C., P.C., Hon. L. O. Breithaupt, LL.D., W. H. Carter, H. E. 
Cochran, C.B.E., V. P. Cronyn, J. B. Davidson, Q.C., F. P. Dawson, Q.C., Gordon Farrell, 
Robert Fennell, Q.C., G. Alex. Forbes, Hon. A. St. C. Gordon, Hon. John Hart, LL.D., 
E. L. Harvey, Q.C., Lt. Col. G. J. Ingram, O.B.E., G. F. Laing, H. H. Leather, M.B.E. 
H. R. MacMillan, C.B.E., D.Sc, W. L. Mara, J. J. McHale, J. S. Moore, J. M. Riddell, 
Q.C A. E. Silverwood, Lt. Col. J. E. Smallman, S. J. Smith, Maj.-Gen. A. C. Spencer, 
C.B.E., J. G. Thompson, E. A. Wilson. 

Auditors 

J. V. Mapp, F.C.A. and Kris A. Mapp, F.C.A.. of Henry Barber, Mapp & Mapp, Chartered 
Accountants. 

Capital Stock 

Amount of Capital Stock authorized (100.000 shares of $20.00 each) $ 2,000,000.00 

Amount subscribed and paid in cash 2,000,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Amount secured bv first mortgages on real estate $ 887,697.16 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral— principal 12,468.36 

Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $ 1,453,741.18 

Interest accrued 6,021.37 $ 1,459,762.55 



(b) Provinces of Canada, including guarantees 887,808.56 2,347,571.11 

Book value of stocks 251 ,943.25 

Cash on hand 67,823.43 

Cash on deposit with chartered banks in Canada, $234,069.72; 

elsewhere, $24,039.90 debit 210,029.82 

Advances to estates, trusts, etc., under administration 171,350.00 



Total Company Funds $ 3,948,883.13 



Guaranteed Funds 

Amount secured by mortgages on real estate including: 

First mortgages $12,391,695.01 

Agreements for sale 13,721.19 

Interest due 27,019.49 

Interest accrued 117,389.00 $12,549,824.69 

(See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral : 

Principal $ 454,644.96 

Interest due 764.23 

Interest accrued 4,823.99 460.233.18 



Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $11,741,630.84 

Interest accrued 65,837.52 $11,807,468.36 



(b) Provinces of Canada, including 

guarantees $ 408,256.87 

Interest accrued 4,353.00 412,609.87 



52 



THE REPORT OF THE 



THE CANADA TRUST COMPANY (Cont'd) 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 50,000.00 

Interest accrued 189.04 50,189.04 



(d) All other bonds $ 183,768.51 

Interest accrued 105.41 183,873.92 12,454,141.19 



Book value of stocks 382,421.23 

Cash on deposit with chartered banks in Canada, $1,741,717.08; 

elsewhere, $288,266.62 2,029,983.70 



Total Guaranteed Funds $27,876,603.99 



Estates, Trusts and Agency Funds 

Unrealized assets $90,824,135.02 

Investments 43,921,087.66 

Cash on hand and in banks 6,100,581.08 $140,845,803.76 



Summary of Assets 

Company Funds $ 3,948,883.13 

Guaranteed Funds 27,876,603.99 

Estates, Trusts and Agency Funds 140,845,803.76 



Grand Total of Assets $172,671,290.88 



Liabilities 

Company Funds 

To the Public- 
Taxes other than taxes on real estate $ 21,000.00 

Dividends to shareholders declared and unpaid 80,000.00 



Total $ 101,000.00 



To the Shareholders: 

Paid-in Capital $ 2,000.000.00 

Reserve Fund 1 ,650,000.00 

General Contingency Reserve — re estates 141,000.00 

Balance of Profit and Loss Account 56,883.13 



Total $ 3,847,883.13 



Total Company Funds $ 3,948,883.13 



Guaranteed Funds 

Trust deposits $17,575,584.87 

General Guaranteed Funds $10,205,865.55 

Interest due and accrued 95,153.57 10,301,019.12 



Total Guaranteed Funds $27,876,603.99 



Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $140,674,453.76 

Due to Company Funds 171,350.00 $140,845,803.76 



Summary of Liabilities 

Company Funds $ 3,948,883.13 

Guaranteed Funds 27.876,603.99 

Estates, Trusts and Agency Funds 140,845,803.76 



Grand Total of Liabilities $172,671.290.88 



1953 



REGISTRAR OF LOAN CORPORATIONS 



53 



THE CANADA TRUST COMPANY (Cont'd) 

REVENUE ACCOUNT 
Income 

Interest and Dividends earned on : 

(a) Mortgages and agreements for sale $ 58,068.83 

(b) Collateral loans 1,118.48 

(c) Bonds and debentures 82,069.06 

(d) Dividends on stocks 12,853.05 

(e) Bank deposits -28.82 

(f) Other interest earned 4,694.42 $ 158,775.02 

Profit on sale of securities and real estate 11,546.60 

Profit in guaranteed funds 429,604.57 

Agency fees and commissions earned 1,055,631.00 

All other revenue for the year 33,844.88 

Total $ 1,689,402.07 



Expenditure 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 158,694.97 

(b) Provincial 2,020.49 

(c) Municipal 10,583.61 $ 171,299.07 

Commissions on loans and on sale of real estate 419.45 

Amount transferred to Investment Reserves 173,000.00 

All other expenses incurred : 

(a) Salaries $ 801,940.24 

(b) Directors' and Advisory Committee fees 19,058.60 

(c) Auditors' fees 17,944.76 

(d) Legal fees 1,720.60 

(e) Rents 107,167.00 

(f) Travelling expenses 26,942.59 

(g) Printing and stationery 18,906.65 

(h) Advertising 25,994.97 

(i) Postage, telegrams, telephones and express 20,270.40 

(j) Miscellaneous 138,285.32 1,178,231.13 

Net profit transferred to Profit and Loss Account $ 166,452.42 

Total $ 1,689,402.07 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 50,430.71 

Amount transferred from Revenue Account 166,452.42 

Total $ 216,883.13 

Dividends to shareholders declared during year $ 160,000.00 

Balance of account at December 31, 1952 56,883.13 

Total $ 216,883.13 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Canadian General Insurance Company, Bond No. 

2c/0336 expiring March 1, 1955— Fidelity Bond covers entire staff up to $500,000 in case 

of default of one or more members. 
Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 

(a) April 15, 1952 (b) July 2. 1952 (c) 4% 

(a) October 21, 1952 (b) January 2, 1953 (c) 4% 

Date appointed for the Annual Meeting — February 11, 1953. 
Date of last Annual Meeting — February 13, 1952. 

Amount of Company's own Guaranteed Trust Certificates and interest thereon, due and unpaid— 
$70,602.31. 



54 



THE REPORT OF THE 



THE CANADA TRUST COMPANY (Concl'd) 

CONSTATING INSTRUMENTS 

1894 — 57-58 Victoria, chapter 115, Canada: an Act incorporating The General Trust Cor- 
poration of Canada. 

1899 — 62-63 Victoria, chapter 111, Canada: an Act changing the name of The General Trust 
Corporation of Canada to The Canada Trust Company and authorizing certain investments of 
funds other than trust funds, and authorizing an increase of capital subject to certain limitations. 

1922 — 12-13 Geo. V, chapter 67, Canada: an Act increasing the Company's board of direc- 
tors from 9 to 21 and authorizing the Company to receive money on deposit. 

1930 — January 21: an Order of the Lieutenant-Governor of the Province of Ontario in 
Council, assenting to an agreement for the purchase by the Canada Trust Company of The 
Consolidated Trusts Corporation. 

1938 — April 9: an Order of the Lieutenant-Governor of the Province of Ontario in Council, 
assenting to an agreement for the purchase by the Canada Trust Company of The Community 
Trusts Corporation. 

1947 — February 13: an Order of the Lieutenant-Governor of the Province of Ontario in 
Council, assenting to an agreement for the purchase by The Canada Trust Company of The 
London and Western Trusts Company, Limited. 

The powers of the Company are defined by sections of the incorporating Act, which powers 
are (Section 4) to be deemed subject to the laws of the Province. 

1949 — December 1: an Order of the Lieutenant-Governor of the Province of Ontario in 
Council, assenting to an agreement for the purchase by The Canada Trust Company of The 
Guelph Trust Company. 

SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 

(a) Farm 

(b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Amount of 
Interest 

Due 
and Not 
Charged 


Company Funds 

Ontario (a) 

Ontario (b) 


$ c. 
168,462.14 
787,452.87 
2,745.00 
55,145.05 
77.94 
40,939.59 


$ c. 
589.91 
5.00 


$ c. 
146.61 
1,828.24 


$ c. 
4.863.00 
9,333.01 
34.38 
1,072.08 
.75 
1,832.15 


$ c. 
174,061.66 
798,619.12 
2.779.38 
58,073.91 
78.69 
43.917 49 


$ c. 


Quebec (b) 




Saskatchewan ... (a) 
Saskatchewan . . . (b) 
Alberta (a) 


617.16 


1,239.62 


2,027.65 


51.60 


1,094.15 




Totals (a) 
Totals (b) 






264,546.78 
790,275.81 


1.258.67 
5.00 


2,480.38 
1,828.24 


7,767.23 
9,368.14 


276,053.06 
801,477.19 


2,027.65 


Total Company 
Funds 

Guaranteed 
Funds 
Ontario (a) 




1,054,822.59 


1,263.67 


4,308.62 


17,135.37 


1,077,530.25 


2,027.65 


307,112.49 
7,490,972.26 
4,368,816.96 

235,845.42 


33.36 
1,681.51 
954.20 


855.67 
22,699.97 
3,411.45 
52.40 


4,708.65 
74,523.96 
35,711.70 

2,444.69 


312,710.17 
7,589,877.70 
4.408,894.31 

238,342.51 




Ontario (b) 




Quebec (b) 




British Columbia (b) 
Totals (a) 








307,112.49 
12,095,634.64 


33.36 
2.635.71 


855.67 
26,163.82 


4,708.65 
112,680.35 


312.710.17 
12,237,114.52 




Totals (ft) 




Total 

Guaranteed 
Funds 




12.402,747.13 


2.669.07 


27,019.49 


117,389.00 


12,549,824.69 









1953 



REGISTRAR OF LOAN CORPORATIONS 



55 



CHARTERED TRUST COMPANY 

Head Office, Toronto, Ont. 

Officers 

President, Rolph R. Corson; Vice-Presidents, C. G. Greenshields, Q.C., J. Maitland 
Macintosh. Q.C., Col. K. R. Marshall, C.M.G., D.S.O., V.D., Norman C. Urquhart, C.B.E.; 
Manager, Henry E. Langford; Secretary, Harold G. Soward; Treasurer, Robert J. Hallawell. 

Directors 

Rolph R. Corson, C. G. Greenshields. Q.C., J. M. Macintosh, Q.C., Col. K. R. Marshall, 
C.M.G., D.S.O., Norman C. Urquhart, C.B.E., S. G. Bennett, M.C., Edward W. Bickle, 
Lieut.-Col. John H. Chipman, M.C., V.D., G. E. Ellsworth, William Harrison, John D. 
Hayes, Thomas H. Hogg, C.E., D. Eng., Henry E. Langford, Gordon C. Leitch, C.B.E., 
J. H. Lithgow, A. LA., F.S.A., J. A. Martin, O.B.E., Maynard A. Metcalf, C.B.E., Norman 
J. McLean, Gordon McMillan, Q.C., J. A. Scythes, Frank Shannon, W. Dent Smith, W. K. 
Whiteford. 

Auditors 

Harvey A. Lever, C.A. and J. Frank Hoskin, C.A. 

Branch Office 

Montreal, Que. 

Capital Stock 

Amount of Capital Stock authorized (125,000 shares of $20.00 each) $ 2,500,000.00 

Amount subscribed and paid in cash 1,000,000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises $ 437,586.40 

Amount secured by mortgages on real estate including: 

First mortgages $ 421,353.84 

Interest due 189.91 

Interest accrued 4,764.88 426,308.63 

(See Schedule B) — 

Amount of loans secured by stocks, bonds and other collateral : 

Principal $ 122.261.00 

Interest due 384.55 

Interest accrued 105.21 122,750.76 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 83,140.22 

Interest accrued 218.70 $ 83,358.92 

(b) Provinces of Canada, including 

guarantees $ 373.153.97 

Interest accrued 2,767.14 375,921.11 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 196,043.71 

Interest accrued 1,825.96 197,869.67 

(d) All other bonds $ 355,916.54 

Interest accrued 2.934.90 358,851.44 1,016,001.14 

Book value of stocks $ 134,923.74 

Accrued dividends thereon 930.00 135,853.74 

Cash on hand 4,855.00 

Cash on deposit with chartered banks in Canada, $154,393.41; 

elsewhere, $7,462.70 161,856.11 

Advances to estates, trusts, etc., under administration 64,340.47 

Recoverable expenses 1,772.58 

All other assets 35,903.89 

Total Company Funds $ 2,407,228.72 



56 



THE REPORT OF THE 



CHARTERED TRUST COMPANY (Cont'd) 

Guaranteed Funds 

Amount secured by mortgages on real estate including : 

First mortgages $ 1,543,826.53 

Interest due 1,213.93 

Interest accrued ' 16.690.36 $ 1,561,730.82 

(See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 130,148.01 

Interest due 548.85 

Interest accrued 37.41 130,734.27 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 9,678,709.36 

Interest accrued 69,646.88 $ 9,748,356.24 

(b) Provinces of Canada, including 

guarantees $ 3,574,451.80 

Interest accrued 13,188.16 3,587,639.96 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 308,693.82 

Interest accrued 1,474.81 310,168.63 

(d) All other bonds $ 5,000.00 

Interest accrued 51.30 5,051.30 13,651,216.13 

Book value of stocks $ 15,745.00 

Accrued dividends thereon 120.00 15,865.00 

Cash on hand 104,825.67 

Cash on deposit with chartered banks in Canada 953,520.28 

Total Guaranteed Funds $16,417 ,892 . 1 7 

Estates, Trusts and Agency Funds 

Unrealized assets and investments $58,816,963.44 

Cash on hand and in banks. 3,809,548.60 $62,626,512.04 

Summary of Assets 

Company Funds $ 2,407,228.72 

Guaranteed Funds 16,417,892.17 

Estates, Trusts and Agency Funds 62,626,512.04 

Grand Total of Assets $ 81,451.632.93 

Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 107,948.90 

Dividends to shareholders declared and unpaid 12,500.00 

Other expenses due and accrued 89,665.91 

Investment reserves 110,439.40 

All other liabilities 19,002.13 

Total $ 339,556.34 

To the Shareholders: 

Paid-in Capital $ 1,000,000.00 

Reserve Fund 1,000,000.00 

Balance of Profit and Loss Account 67,672.38 

Total $ 2,067,672.38 

Total Company Funds $ 2,407,228.72 

Guaranteed Funds 

Trust deposits $14,912,457.55 

Specific Guaranteed Funds 346,469.53 

General Guaranteed Funds $ 853,742.04 



1953 



REGISTRAR OF LOAN CORPORATIONS 



57 



CHARTERED TRUST COMPANY (Cont'd) 

Interest due and accrued 5.223.05 858,965.09 

Investment Reserve 300,000.00 

Total Guaranteed Funds $16,417,892.17 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $62,562,171.57 

Due to Company Funds 64,340.47 $62,626,512.04 

Summary of Liabilities 

Company Funds $ 2,407,228.72 

Guaranteed Funds 16,417,892.17 

Estates, Trusts and Agency Funds 62,626,512.04 

Grand Total of Liabilities $81,451,632.93 



REVENUE ACCOUNT 
Income 

Rents earned, net — on office premises $ 18,941.88 

Interest and Dividends earned on : 

(a) Mortgages and agreements for sale $ 27,777.41 

(b) Collateral loans 4,318.36 

(c) Bonds and debentures 31,619.33 

(d) Dividends on stocks 5,995.00 

(e) Interest on advances 2,155.08 71,865.18 

Profit in guaranteed funds 189,377.29 

Agency fees and commissions earned 1,002,064.70 

All other revenue for the year 4,742.47 

Total $ 1,286,991.52 

Expenditure 

Amount by which ledger values of assets were written down $ 36,622.32 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 162,705.72 

(b) Provincial 4,130.10 

(c) Municipal 11,095.08 177,930.90 

Commissions on loans and on sale of real estate 14,000.09 

Amount transferred to Investment Reserves 100,000.00 

All other expenses incurred : 

(a) Salaries $ 669,448.64 

(b) Directors' and Advisory Committee fees 7,715.59 

(c) Auditors' fees 7,000.00 

(d) Legal fees 240.00 

(e) Rents 63,036.16 

(f) Travelling expenses 6,341.65 

(g) Printing and stationery 21,429.25 

(h) Advertising and business promotion 48,288.39 

(i) Postage, telegrams, telephones and express 21,589.67 

(j) Miscellaneous 66,612.51 911,701.86 

Net profit transferred to Profit and Loss Account 46,736.35 

Totals $ 1,286,991.52 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 70,936.03 

Amount transferred from Revenue Account 46,736.35 

Total $ 117,672.38 



58 



THE REPORT OF THE 



CHARTERED TRUST COMPANY (Concl'd) 

Dividends to shareholders declared during year $ 50,000.00 

Balance of account at December 31, 1952 67,672.38 

Total $ 117,672.38 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation— Bankers' Blanket Bond — fidelity, theft, robbery, 
burglary, etc. — $300,000.00; Canadian General Insurance Company Policies 6B946 and 
6B947, covering officers and staff. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) February 12, 1952 (b) April 1, 1952 (c) 

(a) May 20, 1952 (b) July 2, 1952 (c) 

(a) June 17, 1952 (b) October 1, 1952 (c) 

(a) November 18, 1952 (b) January 2, 1953 (c) 

Date appointed for the Annual Meeting — February 10, 1953. 

Date of last Annual Meeting — February 12, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $2 ,443 ,264 .8 1 . 

CONSTATING INSTRUMENTS 

The Company was incorporated by Act of Parliament of Canada, chap. 162, 4-5 Edward 
VII, assented to July 20, 1905, under the name of The Title and Trust Company, with powers 
to carry on a general trust company business and also title insurance. 

By Act of the Legislature of the Province of Ontario, chap. 118, 7 Edward VII, 1907, assented 
to April 20, 1907, the Company was empowered to register under The Ontario Insurance Act 
and under The Loan Corporations Act of the Province. 

April 18, 1914: amendment to Charter and by further Act of the Parliament of Canada, 
chap. 70, 5 George V, assented to April 8, 1915, the name of the Company was changed from 
The Title and Trust Company to Chartered Trust and Executor Company, the business of title 
insurance having been discontinued. 

By further Act of the Parliament of Canada, chap. 98, 9-10 George V, assented to July 7, 
1919, the Company was empowered to acquire the business of any other company and to sell 
and dispose of its own business. (The last mentioned Act was preliminary to the acquisition of 
Guardian Trust Company, Limited.) 

By Act of the Parliament of Canada, chap. 75, 19-20 George V, assented to May 1, 1929, 
the capital stock of the Company was increased to $2,500,000.00. 

By Act of the Legislature of the Province of Quebec, 25-26 George V, chap. 150, the Com- 
pany acquired the business of Quebec Savings and Trust Company on March 23, 1936. 

By Act of the Parliament of Canada, chap. 29, 13 George VI, assented to April 30, 1949 
the name of the Company was changed to Chartered Trust Company. 

SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Company Funds 
Ontario (a) 


$ c. 
39,175.00 
382,178.84 

119,515.00 
1,252,799.03 
171,512.50 


$ c. 


$ c. 
1,755.27 
3,009.61 

4,250.76 
10,189.47 
2,250.13 


$ c. 
40.930.27 
385,378.36 

123,765.76 
1,263,666.21 
174,298.85 


Ontario (b) 

Guaranteed Funds 
Ontario (a) 


189.91 


Ontario (b) 

Quebec (b) 

Totals (a) 


677.71 
536.22 


158,690.00 
1,806.490.37 




6.006.03 
15,449.21 


164,696.03 
1,823,343.42 


Totals (b) 

Grand Totals 


1,403.84 


1,965,180.37 


1,403.84 


21,455.24 


1,988.039.45 



1953 



REGISTRAR OF LOAN CORPORATIONS 



59 



CROWN TRUST COMPANY 
Head Office, Toronto, Ont. 

Officers 

President, Irving P. Rexford; Vice-Presidents, Col. The Hon. Herbert A. Bruce, Hon. 
G. P. Campbell, Q.C., LL.D., Horace A. Howard, John A. McDougald; Executive Vice- 
President, R. S. Anderson; General Manager, Ernest T. Godwin; Secretary, C. Douglas 
Henderson; Treasurer, James H. Joyce. 

Directors 

James P. Anglin, R. C. Berkinshaw, C.B.E., Robert A. Brown, Jr., Col. The Hon. 
Herbert A. Bruce, Hon. G. P. Campbell, Q.C., LL.D., Christie T. Clark, Frederick 
M. Connell, O.B.E., B.Sc, LL.D., F. J. Crawford, Nelson M. Davis, S. E. Dinsmore, 
William L. Duffield, Mervyn A. Dutton, P. C. Finlay, Q.C., Douglas B. Greig, J. William 
Horsey, H. A. Howard, H. Jasper Humphrey, O.B.E., John A. McDougald, Roy W. Milner, 
Joseph M. Mulford, G. W. Nicholson, Lt.-Col. W. P. O'Brien, W. E. Phillips, Stuart 
B. Playfair, John M. Pritchard, Air Vice Marshall Adelard Raymond, C.B.E., A.D.C., 
Irving P. Rexford, Maj.-Gen. James G. Ross, C.M.G., W. Ralph Salter, Q.C., H. Heward 
Stikeman, Q.C., Arnold Wainwright, Q.C., Percy R. Walters, E. Gordon Wills. 

Auditors 

H. Percy Edwards. F.C.A. and A. Geoffrey Edwards, F.C.A., of Edwards, Morgan and 
Company, Chartered Accountants. 

Branch Offices 

Toronto, Ont.; Montreal, Que.; Brantford, Ont.; London, Ont.; Windsor, Ont.; Winnipeg. 
Man.; Calgary, Alta.; Vancouver, B.C. 

Capital Stock 

Amount of Capital Stock authorized (15,000 shares of $100.00 each) $ 1,500,000.00 

Amount subscribed and paid in cash 1,267,500.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Office premises $ 450,000.00 

Amount of loans secured by stocks, bonds and other collateral : 

Principal $ 15,622.86 

Interest due 107.50 15,730.36 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 768,763.03 

Interest accrued 6,687.50 $ 775,450.53 

(b) Provinces of Canada, including 

guarantees $ 227,768.75 

Interest accrued 68.75 227,837.50 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 42,181.00 

(d) All other bonds $ 379,415.50 

Interest accrued 3,578.51 382,994.01 1,428,463.04 

Book value of stocks 242,038.37 

Cash on hand 5,829.41 

Cash on deposit with chartered banks in Canada, $89,619.84; 

elsewhere, $5,970.80 95,590.64 

Advances to estates, trusts, etc., under administration 124,533.93 

Total Company Funds $ 2,362,185.75 

Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages $11,189,081.41 

Agreements for sale 286,309.01 

Interest due 35,946.92 

Interest accrued 64,980.84 $11,576,318.18 

(See Schedule B) 



60 



THE REPORT OF THE 



CROWN TRUST COMPANY (Cont'd) 

Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 872,825.43 

Interest due 4,750.63 877,576.06 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 6,055,639.00 

Interest accrued 32,492.07 $ 6,088,131.07 

(b) Provinces of Canada, including 

guarantees $ 2,616,426.65 

Interest accrued 15,920.88 2,632,347.53 

(c) Canadian municipalities, school districts 

and rural telephone companies 1,228,508.77 

Interest due 5.48 

Interest accrued 7,708.55 1,296,222.80 

(d) All other bonds $ 266,533.50 

Interest accrued, 1,777.90 268,311.40 10,285,012.80 

Book value of stocks 106,061.38 

Cash on hand 49,832.20 

Cash on deposit with chartered banks in Canada, $429,775.02; 

elsewhere, $9,614.15 439,389.17 

Total Guaranteed Funds 823,334,189.79 

Estates, Trusts and Agency Funds 

Unrealized assets and investments $104,659,903.27 

Cash on hand and in banks 4,687,622.42 $109,347,525.69 

Summary of Assets 

Company Funds $ 2,362,185.75 

Guaranteed Funds 23,334,189.79 

Estates, Trusts and Agency Funds 109,347,525.69 

Grand Total of Assets $135,043,901.23 



Liabilities 



Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 48,393.54 

Dividends to shareholders declared and unpaid 15,843.75 

All other liabilities 64,583.48 



Total $ 128,820.77 



To the Shareholders: 

Paid-in Capital $ 1,267,500.00 

Reserve Fund 850,000.00 

Balance of Profit and Loss Account 115,864.98 



Total $ 2,233,364.98 



Total Company Funds $ 2,362,185.75 



Guaranteed Funds 

Trust deposits $13,857,871.39 

Specific Guaranteed Funds $ 2,039,105.91 

Interest due and accrued 39,814.19 2,078,920.10 



General Guaranteed Funds $ 7,356,938.04 

Interest due and accrued 40,460.26 7,397,398.30 



Total Guaranteed Funds 



$23,334,189.79 



1953 



REGISTRAR OF LOAN CORPORATIONS 



61 



CROWN TRUST COMPANY (Cont'd) 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $109,222,991.76 

Due to Company Funds 124,533.93 $109,347,525.69 



Summary of Liabilities 

Company Funds $ 2,362,185.75 

Guaranteed Funds 23,334,189.79 

Estates, Trusts and Agency Funds 109,347,525.69 



Grand Total of Liabilities $1 35,043,901.23 



REVENUE ACCOUNT 
Income 

Interest and Dividends earned on: 

(a) Collateral loans $ 153.21 

(b) Bonds and debentures 47,439.01 

(c) Dividends on stocks 14,420.00 

(d) Other interest earned 8,792.58 $ 70,804.80 



Profit on sale of securities and real estate 7,253.34 

Profit in guaranteed funds 397,192.72 

Agency fees and commissions earned 1,021,448.53 

All other revenue for the year 46,166.96 



Total $ 1,542,866.35 



Expenditure 

Interest incurred 38.30 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 92,251.85 

(b) Provincial 9,112.30 

(c) Municipal 14,675.80 116,039.95 



All other expenses incurred: 

(a) Salaries $ 834,835.59 

(b) Directors' and Advisory Committee fees 17,272.50 

(c) Auditors' fees 12,600.00 

(d) Legal fees 6,654.39 

(e) Rents 138,024.20 

(f) Travelling expenses 17,529.40 

(g) Printing and stationery 31,868.49 

(h) Advertising 32,237.68 

(i) Postage, telegrams, telephones and express 11,930.59 

(j) Miscellaneous 188,518.76 1,291,471.60 



Net profit transferred to Profit and Loss Account 135,316.50 



Total $ 1,542,866.35 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 93,923.48 

Amount transferred from Revenue Account 135,316.50 



Total $ 229,239.98 



Dividends to shareholders declared during year $ 63,375.00 

Amount transferred to Reserve Fund 50,000.00 

Balance of account at December 31, 1952 115,864.98 



Total $ 229,239.98 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Employers' Liability Assc. Corpn., Fidelity 
Collective Bond No. 20154, expiring December 10, 1954, and Brokers' Blanket Bond No. 
206514, expiring April 1, 1955, covering all officers and staff for $812,500.00. 



62 



THE REPORT OF THE 



CROWN TRUST COMPANY (Concl'd) 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) February 29, 1952 (b) April 1, 1952 (c) $1.25 

(a) May 30, 1952 (b) July 2, 1952 (c) $1.25 

(a) June 20, 1952 (b) October 1, 1952 (c) $1.25 

(a) November 28, 1952 (b) January 2, 1953 (c) $1.25 

Date appointed for the Annual Meeting — first Friday in February each year. 

Date of last Annual Meeting — February 6, 1953. 

In the case of any Company whose stocks, bonds or debentures are held by the Corporation 
either directly or indirectly, if such Company is otherwise indebted to the Corporation upon 
loans either secured by mortgages or other security, or unsecured. 
The aggregate amount of such loans — $118,350.49. 

The aggregate amount of instalments of principal in arrears — $118,350.49. 
Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $ 1 , 672 , 1 55 . 1 4 . 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpaid— $8,116.92. 

CONSTATING INSTRUMENTS 

Feb. 24, 1897 — Incorporated as The Trusts and Guarantee Company, Limited, under the 
provisions of R.S.O. 1887, c. 157, and The Trust Company Act, 1895. 

Dec. 23, 1897. — Supplementary Letters Patent, confirming By-law increasing Capital Stock 
from $500,000 to $2,000,000 (40,000 shares of $50.00 par value). 

Feb. 25, 1898 — Order-in-Council granting power to operate outside Ontario. 

Aug. 14, 1900 — Supplementary Letters Patent, increasing powers of investment. 

Mar. 28, 1907.— Supplementary Letters Patent, redividing Capital Stock into 20,000 shares 
of $100.00 each. 

Jan. 25, 1934 — Order-in-Council confirming By-law increasing Capital Stock to $3,000,000. 
Jan. 25, 1934 — Order-in-Council assenting to the purchase of the Assets of Union Trust 
Company Limited. 

Oct. 30, 1940 — Order-in-Council approving decrease of Capital Stock from $3,000,000 to 
$1,500,000. 

May 21, 1946 — R.S.O. 1946, C. 143, changing name to Crown Trust and Guarantee Com- 
pany. 

May 21, 1946 — Order-in-Council assenting to the purchase of Crown Trust Company. 
Dec. 23, 1947 — Order-in-Council changing name to Crown Trust Company. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Guaranteed Funds 

Alberta (a) 

Alberta (b) 

British Columbia (a) 


$ c. 
39,060.84 
268,765.15 
118,350.49 
473,853.46 
6,023.51 
478,393.90 
36,397.40 
27,765.56 
9,149,305.64 
865,477.24 


$ c. 
213.07 
7.20 


$ c. 
1,217.69 
1,603.89 


$ c. 
121.45 
307.91 


$ c. 
40,613.05 
270,684.15 
118,350.49 
478,290.36 
6,259.96 
485,866.83 
37,800.85 
27,988.72 
9,231,942.27 
878,521.50 


British Columbia (b) 

Manitoba (a) 

Manitoba (b) 

Saskatchewan (a) 

Ontario (a) 


836.14 
88.25 


819.00 
127.11 
543.87 
1,181.84 


3,617.90 
109.34 

6,092.92 
133.36 
223.16 
45,649.87 

8,724.93 


Ontario (b) 

Quebec (b) 

Totals (a) 

Totals (b) 

Grand Totals 


10,852.57 


26,134.19 
4,319.33 


227,597.80 
11,235,795.39 


301.32 
11,695.91 


2,526.64 
33,420.28 


587.31 
64,393.53 


231,013.07 
11,345,305.11 


11,463,393.19 


11,997.23 


35,946.92 


64,980.84 


11,576,318.18 



1953 



REGISTRAR OF LOAN CORPORATIONS 



63 



THE EASTERN TRUST COMPANY 
Head Office, Halifax, N.S. 
Officers 

President and Manager, Albert S. Fraser; Vice-Presidents, H. R. Silver, C. B. Smith, 
J. C. MacKeen; Secretary, E. G. Dewling. 

Directors 

Albert S. Fraser, H. R. Silver, C. B. Smith, Q.C., J. C. MacKeen, A. Kirk Cameron, 
Arthur H. Campbell, Hon. Harold Connolly, Michael Dwyer, H. L. Enman, Henry J. 
Hague, Q.C., J. C. Harrison, D. H. McDougall, Donald McInnes, Q.C., A. M. MacKay, 
Hugh MacKay, Ira MacNab, M.E.I.C., John MacNeil, Q.C., S. C. Oland, William T. 
Powers, G. H. Rennie, M.B.E., D. C. Sinclair, Q.C., C. W. Stairs, Norman R. Whittall, 
W. N. Wickwire, Q.C. 

Auditors 

Clarkson, Gordon & Company. 
Johnson, Smith & Company. 

Branch Offices 

Halifax, N.S.; Montreal, Que.; St. John, N.B.; Moncton, N.B.; Charlottetown, P.E.I. ; 
St. John's, Nfld.; Toronto, Ont.; New Glasgow, N.S.; Lunenburg, N.S.; Yarmouth, N.S.; Van- 
couver, B.C. 



Capital Stock 

Amount of Capital Stock authorized (30,000 shares of $10.00 each) $ 3,000,000.00 

Amount subscribed 1,000,000.00 

Amount paid in cash 1,000,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Office premises $ 457,500.00 

Book value of real estate held for sale 31,000.00 

Amount secured by mortgages on real estate including: 

First mortgages $ 454,219.22 

Interest accrued 2,804.69 457,023.91 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral — principal 144,715.31 

Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $ 91,000.00 

Interest accrued 597.54 $ 91,597.54 



(b) Provinces of Canada, including 

guarantees $ 7,400.00 

Interest accrued 152.68 7,552.68 



(c) Canadian municipalities, school districts 

and rural telephone companies $ 71,644.25 

Interest accrued 1,393.73 73,037.98 



(d) All other bonds $ 20,211.00 

Interest accrued 314.32 20,525.32 192,713.52 



Book value of stocks 246,853.55 

Cash on deposit with chartered banks in Canada 123,711.40 

Advances to estates, trusts, etc., under administration 192,671.32 

All other assets 40,000.00 



Total Company Funds $ 1,886,189.01 



64 



THE REPORT OF THE 



THE EASTERN TRUST COMPANY (Cont'd) 

Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First, mortgages $ 7,028,567.30 

Interest accrued 33,157.20 $ 7,061,724.50 

(See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 2,281,151.98 

Interest accrued 379.05 2,281,531.03 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 3,664,058.65 

Interest accrued 28,827.84 $ 3,692,886.49 

(b) Provinces of Canada, including 

guarantees $ 386,480.00 

Interest accrued 2,032.62 388,512.62 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 1,895,563.42 

Interest accrued 22,055.00 1,917,618.42 

(d) All other bonds $ 1,046,316.56 

Interest accrued 13,122.91 1,059,439.47 7,058,457.00 

Cash on deposit with chartered banks in Canada 206,986.98 

Total Guaranteed Funds $16,608,699.51 

Estates, Trusts and Agency Funds 

Unrealized assets $ 5,231,989.25 

Investments 99,491 ,957.66 

Cash on hand and in banks 2,154,504.56 $106,878,451.47 

Summary of Assets 

Company Funds $ 1,886,189.01 

Guaranteed Funds 16,608,699.51 

Estates, Trusts and Agency Funds 106,878,451.47 

Grand Total of Assets $1 25,373,339.99 

Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 112,697.22 

Dividends to shareholders declared and unpaid 20,000.00 

Total $ 132,697.22 

To the shareholders: 

Paid-in Capital $ 1,000,000.00 

Reserve Fund 625,000.00 

General Contingency Reserve 71,989.97 

Balance of Profit and Loss Account 56,501.82 

Total $ 1,753,491.79 

Total Company Funds $ 1,886,189.01 

Guaranteed Funds 

Specific Guaranteed Funds $16,582,630.06 

Interest due and accrued 26,069.45 $16,608,699.51 

Total Guaranteed Funds $16,608,699.51 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $106,685,780.15 

Due to Company Funds 192,671.32 $106,878,451.47 



1953 



REGISTRAR OF LOAN CORPORATIONS 



65 



THE EASTERN TRUST COMPANY (Cont'd) 



Summary of Liabilities 

Company Funds $ 1,886,189.01 

Guaranteed Funds 16,608,699.51 

Estates, Trusts and Agency Funds 106,878,451.47 



Grand Total of Liabilities $125,373,339.99 



REVENUE ACCOUNT 
Income 

Rents, earned, net — on office premises $ —1,722.11 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 25,556.13 

(b) Collateral loans 11,553.08 

(c) Bonds and debentures 7,688.56 

(d) Dividends on stocks 12,440.50 57,238.27 



Profit on sale of securities and real estate 61,009.55 

Profit in guaranteed funds 269,363.03 

Agency fees and commissions earned 585,299.86 

All other revenue for the year 655.18 



Total $ 971,843.78 



Expenditure 

Amount by which ledger values of assets were written down $ 27,345.32 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 95,188.42 

(b) Provincial 9,220.53 

(c) Municipal 13,077.55 $ 117,486.50 



All other expenses incurred : 

(a) Salaries $ 448,209.45 

(b) Directors' and Advisory Committee fees 17,110.00 

(c) Auditors' fees 7,674.00 

(d) Legal fees 1,247.10 

(e) Rents 60,853.06 

(f) Travelling expenses 20,231.59 

(g) Printing and stationery 11,886.81 

(h) Advertising 16,928.57 

(i) Postage, telegrams, telephones and express 17,601.71 

(j) Maintenance of office premises 12,046.65 

(k) Miscellaneous 76,478.09 690,267.03 



Transferred to Staff Pension Fund 30,734.55 

Net profit transferred to Profit and Loss Account 106,010.38 



Total $ 971,843.78 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 55,491.44 

Amount transferred from Revenue Account 106,010.38 



Total $ 161,501.82 



Dividends to shareholders declared during year $ 80 000.00 

Amount transferred to Reserve Fund 25,000.00 

Balance of account at December 31, 1952 56,501.82 



Total $ 161,501.82 



66 



THE REPORT OF THE 



THE EASTERN TRUST COMPANY (Concl'd) 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — United States Fidelity & Guarantee Co., No- 
02-504-30. All officials and members of staff covered by blanket policy to extent of $500,000.00. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates paid. 

(a) March 6, 1952 (b) April 1, 1952 

(a) June 12, 1952 (b) July 2, 1952 

(a) September 11, 1952 (b) October 1, 1952 

(a) December 11, 1952 (b) January 2, 1953 

Date appointed for the Annual Meeting — February 12, 1953. 

Date of last Annual Meeting — February 14, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $927,206.78. 

CONSTATING INSTRUMENTS 

Incorporated in 1893 by Act of the Parliament of Canada, 56 Vic, c. 84. Amendments in 
1899, 62-63 Vic, c. 110, and in 1908, 7-8 Edw. VII, c 103. Commenced business in 1893. Granted 
registry in Ontario, November 1, 1936. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 




Principal 


Interest 








Outstand- 


Accrued 


Totals 


(a) Farm (b) Urban 




ing 






Company Funds 




$ c 


$ c. 


$ c. 


Nova Scotia 


• (*) 


337,122.47 


1,914.77 


339,037.24 


Nova Scotia 


■ (a) 


1,763.79 


14.47 


1,778.26 


New Brunswick 


■ (b) 


79,670.46 


577.58 


80,248.04 


New Brunswick 


■ (a) 


4,812.50 




4,812.50 


Prince Edward Island 


■ (b) 


23,500.00 


226.61 


23,726.61 


Prince Edward Island 


■ (a) 


4,600.00 


18.90 


4,618.90 


Quebec 


■(b) 


2,750.00 


52.36 


2,802.36 


Totals 




454,219.22 


2,804.69 


457,023.91 


Guaranteed Funds 










Nova Scotia 


■ (b) 


3,029,488.50 


13,950.36 


3,043,438.86 


Nova Scotia 


.(«) 


94,943.87 


751.02 


95,694.89 


New Brunswick 


■ (b) 


721,031.62 


5,801.19 


726,832.81 


New Brunswick 


■ (a) 


21,362.50 


186.51 


21,549.01 


Prince Edward Island 


■(b) 


296,796.15 


940.33 


297,736.48 


Prince Edward Island 


■ (a) 


9,627.00 


26.22 


9,653.22 


Quebec 


■(b) 


571,846.05 


7,600.09 


579,446.14 


Ontario 


■ (b) 


877,809.84 


' 35.22 


877,845.06 


Ontario 


■ (a) 


5,200.00 




5,200.00 


Newfoundland 


■ (b) 


526,888.53 


2,855.81 


529,744.34 


Alberta 


■ (b) 


867,339.17 


982.27 


868,321.44 


Alberta 


■{a) 


6,234.07 


28.18 


6,262.25 


Totals 




7,028,567.30 


33,157.20 


7,061,724.50 



1953 



REGISTRAR OF LOAN CORPORATIONS 



67 



GENERAL TRUST OF CANADA 
(TRUST GENERAL DU CANADA) 
Head Office, Montreal, Que. 

Officers 

President, Hon. Donat Raymond; Vice-Presidents, L. J. Adjutor Amyot, Rene Morin, 
Hon. Jacob Nicol, Q.C.; Manager, Honore Parent; Secretary-Treasurer, Romeo Bertrand. 

Directors 

Hon. Donat Raymond, L. J. Adjutor Amyot, Rene Morin, Hon. Jacob Nicol, Q.C., 
L. E. Beaulieu Q.C., Emile Corbeil, Jules Henri Cote, Aristide Cousineau, J. Leonard 
Demers, G. T. Donahue, Marcel Faribault, Oscar Hamel, Alderic Laurendeau, Q.C., 
Gerard G. Ryan, Leo C. Ryan, J. A. Trudel, Fridolin Simard, Dr. R. E. Valin, Hon. J. M. 
Dessureault. 

Auditors 

Maurice Chartre, C.A. 

Branch Offices 

Quebec, P.Q.; Ottawa, Ont. 



Capital Stock 

Amount of Capital Stock authorized (20 000 preferred shares of $100.00 each; 

1,000 common shares of $5.00 each) $ 2,005,000.00 

Amount subscribed (11,000 preferred. $1,100,000.00; 1,000 common, $5.00) 1,105,000.00 

Amount paid in cash 1,105,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Office premises $ 317,142.57 

Amount secured by mortgages on real estate including: 

First mortgages $ 293,507.97 

Interest accrued 4,128.15 297,636.12 

(See Schedule B.) 

Book value of bonds debentures and debenture stocks; 
(a) Government of Canada, including 

guarantees $ 121,050.00 

Interest accrued $ 1,115.76 $ 122,165.76 



(b) Provinces of Canada, including 

guarantees $ 224,791.70 

Interest accrued 691.91 225,483.61 



(c) Canadian municipalities, school districts 

and rural telephone companies $ 54,542.50 

Interest accrued 482.48 55,024.98 



(d) All other bonds $ 155,630.07 

Interest accrued 2,411.99 158,042.06 

560,716.41 

Book value of stocks 226,774.99 

Cash on deposit with chartered banks in Canada 31,632.26 

Advances to estates, trusts, etc., under administration 170,260.00 

Sundry loans 1 1 ,22 1 .66 

All other assets 22 , 1 5 1 .04 



Total Company Funds $ 1,637,535.05 



68 



THE REPORT OF THE 



GENERAL TRUST OF CANADA (Cont'd) 

Guaranteed Funds 
Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 1,973,388.48 

Interest due -11,070.75 

Interest accrued 45.42 $ 1,962,363.25 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 767,290.74 

Interest accrued 3,217.24 $ 770,507.98 

(b) Provinces of Canada, including 

guarantees $ 1,420,307.63 

Interest accrued 9,564.22 1,429,871.85 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 2,229,544.41 

Interest accrued 18,675.75 2,248,220.16 

(d) All other bonds. .. $ 1,502,360.05 

Interest accrued 21,210.41 1,523,570.46 

$ 5,972,170.45 

Cash on deposit with chartered banks in Canada 166,606.00 

Total Guaranteed Funds $ 8,101,139.70 

Estates, Trusts and Agency Funds 

Unrealized assets $ 1,509,461.00 

Investments 98,724, 1 17.85 

Cash on hand and in banks 1,494,757.33 101,728,336.18 

Summary of Assets 

Company Funds $ 1,637,535.05 

Guaranteed Funds 8, 101 , 139.70 

Estates, Trusts and Agency Funds. 101,728,336.18 

Grand Total of Assets $111,567,010.93 



Liabilities 

Company Funds 

To the Public- 
Money borrowed from banks, with security $ 100,000.00 

Taxes other than taxes on real estate $ 44,768.12 

Dividends to shareholders declared and unpaid 15,175.00 

All other liabilities 30,959.71 

Total $ 190,902.83 

To the Shareholders: 

Paid-in Capital $ 1,105,000.00 

Reserve Fund 200,000.00 

Balance of Profit and Loss Account 141,632.22 

Total $ 1,446,632.22 

Total Company Funds $ 1,637,535.05 

Guaranteed Funds 

General Guaranteed Funds $ 8,101,139.70 

Total Guaranteed Funds $ 8,101,139.70 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies Accounts $101,558,076.18 

Due to Company Funds 170.260.00 101,728.336.18 



1953 



REGISTRAR OF LOAN CORPORATIONS 



69 



GENERAL TRUST OF CANADA (Cont'd) 

Summary of Liabilities 

Company Funds $ 1,637,535.05 

Guaranteed Funds 8,101,139.70 

Estates, Trusts and Agency Funds 101,728,336.18 



Grand Total of Liabilities $111,567,010.93 



REVENUE ACCOUNT 
„ Income 

Rents earned, net — on office premises $ 3,174.69 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 14,812.17 

(b) Bonds and debentures 17,603.86 

(c) Dividends on stocks 10,999.02 

(d) Other interest earned 5,576.05 $ 48,991.10 



Profit in guaranteed funds 89,733.54 

Agency fees and commissions earned 307,666.35 



Total $ 449,565.68 



Expenditure 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 74,037.88 

(b) Provincial 11,609.93 

(c) Municipal 2,616.41 $ 88,264.22 



Amount transferred to Investment Reserves 3,340.63 

All other expenses incurred : 

(a) Salaries $ 174,168.34 

(b) Directors' and Advisory Committee fees 1,520.00 

(c) Auditors' fees 3,500.00 

(d) Legal fees 115.00 

(e) Rents 5,026.51 

(f) Printing and stationery 8,267.43 

(g) Advertising 15,056.91 

(h) Postage, telegrams, telephones and express 6,519.68 

(i) Miscellaneous 53,592.10 267,765.97 



Net profit transferred to Profit and Loss Account 90,194.86 



Total $ 449,565.68 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 106,437.36 

Amount transferred from Revenue Account 90,194.86 



Total $ 196,632.22 



Dividends to shareholders declared during year $ 55,000.00 

Balance of account at December 31, 1952 141,632.22 



Total $ 196,632.22 



70 THE REPORT OF THE 



GENERAL TRUST OF CANADA (Concl'd) 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Lloyds' Blanket Policy of $100,000.00 for excess 
of loss over $250.00, No. 64905K. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) December 14, 1951 (b) January 15, 1952 (c) V/±% 

(a) February 22, 1952 (b) April 15, 1952 (c) 

(a) June 13, 1952 (b) July 15, 1952 (c) \%% 

(a) September 12, 1952 (b) October 15, 1952 (c) l%% 

Date appointed for the Annual Meeting — third Friday of February. 

Date of last Annual Meeting— February 22, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $ 1 ,034 ,048 .9 1 . 



CONSTATING INSTRUMENTS 

Incorporated: Province of Quebec, charter May 29th, 1909. Amendments to charter, 
April 3, 1912 and March 5, 1928. Special Act of the Legislature of Ontario, 15 George VI, 1951. 
Registered as a Trust Company in Ontario, June 25, 1951. 



SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 


Principal 


Interest 






Outstanding 


Accrued 


Totals 


(a) Farm (b) Urban 








Company Funds 


$ c. 


$ c. 


$ c. 


Quebec (b) 


293,507.97 


4,128.15 


297,636.12 



1953 



REGISTRAR OF LOAN CORPORATIONS 



71 



GUARANTY TRUST COMPANY OF CANADA 
Head Office, Toronto, Ont. 

Officers 

President and General Manager, J. Wilson Berry; Vice-Presidents, A. J. Major, LL.D., 
E. M. Proctor, B.A., Sc.. F. H. Leslie, Robert Maisey, Hector H. Racine; Secretary, John A. 
Thompson; Treasurer, Edward T. Berry. 

Directors 

Robert Belanger, J. Wilson Berry, M. J. Boylen, John B. Carswell, O.B.E., C.E., 

B. Sc., John S. Dickson, Louis Blake Duff, W. H. Furlong, Q.C., Lt.-Col. J. R. Gauvreau, 

C. E., T. R. Harrison, R. W. Keeley, L. A. Landreau, Q.C., F. H. Leslie, Robert Maisey, 
A. J. Major, LL.D., G. M. Miller, Q.C., J. R. Morris, Q.C., T. M. Mungovan, Q.C., Hon. 
Dr. J. J. McCann, CM., P.C., Joseph McDonough, H. C. Nicholls, E. M. Proctor, B.A., 
Sc., Hector Racine, G. G. Robinson, Dr. G. B. Snyder, William F. Spry. 

Auditors 

Brokenshire, Scarff & Company. 

Branch Offices 

Toronto, Ont.; Ottawa, Ont.; Windsor, Ont.; Niagara Falls, Ont.; Sudbury, Ont.; Montreal, 
Que.; Calgary, Alta.; Vancouver, B.C. 

Capital Stock 

Amount of Capital Stock authorized (500,000 shares of $10.00 each) $ 5,000,000.00 

Amount subscribed 1,800,000.00 

Amount paid in cash 1,800,000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Office premises $ 283,302.64 

Amount of loans secured by stocks, bonds and other collateral: 

Principal $ 300,307.68 

Interest accrued ' 244.15 300,551.83 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 14,952.32 

Interest accrued 191.31 $ 15,143.63 

(b) Provinces of Canada, including 

guarantees $ 7,000.00 

Interest accrued 39.89 7,039.89 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 331,376.07 

Interest accrued 1,558.00 332,934.07 

(d) All other bonds $ 772,106.73 

Interest accrued 11,689.05 783,795.78 1,138,913.37 

Book value of stocks $ 693,357.88 

Accrued dividends thereon 5,175.52 698,533.40 

Cash on hand 138,099.06 

Cash on deposit with chartered banks in Canada 68,717.32 

Advances to estates, trusts, etc., under administration 27,500.00 

All other assets 12,681.29 

Total Company Funds $ 2,668,298.91 

Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 9,913,878.13 

Agreements for sale 31, 798 .32 

Interest due 3,090.48 

Interest accrued 40,126.26 $ 9,988,893.19 

(See Schedule B.) 



72 



THE REPORT OF THE 



GUARANTY TRUST COMPANY OF CANADA (Cont'd) 

Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 249,294.39 

Interest accrued 646.86 249,941.25 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 3,000,621.25 

Interest accrued 27,620.15 $ 3,028,241.40 

(b) Provinces of Canada, including 

guarantees $ 4,350,199.86 

Interest accrued 35,114.14 4,385,314.00 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 1,636,724.57 

Interest accrued 21,059.25 1,657,783.82 $ 9,071,339.22 

Cash on hand 258,224.89 

Cash on deposit with chartered banks in Canada, $2,333,259.57; 

elsewhere, $148,536.92 2,481,796.49 

Total Guaranteed Funds , $22,050,195.04 



Estates, Trusts and Agency Funds 

Unrealized assets and investments $52,817,807.23 

Cash on hand and in banks 3,200,439.72 $56,018,246.95 

Summary of Assets 

Company Funds $ 2,668,298.91 

Guaranteed Funds 22,050,195.04 

Estates, Trusts and Agency Funds 56,018,246.95 

Grand Total of Assets ■ $80,736,740.90 



Liabilities 

Company Funds 



To the Public: 

Taxes other than taxes on real estate $ 40,341.45 

Dividends to shareholders declared and unpaid 27,000.00 



Total $ 67,341.45 



To the Shareholders: 

Paid-in Capital $ 1,800,000.00 

Reserve Fund 750,000.00 

Balance of Profit and Loss Account 50,957.46 



Total $ 2,600,957.46 



Total Company Funds $ 2,668,298.91 



Guaranteed Funds 

Trust deposits $14,081,211.28 

General Guaranteed Funds $ 7,924,938.49 

Interest due and accrued 44,045.27 7,968,983.76 



Total Guaranteed Funds $22,050,195.04 



Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $55,990,746.95 

Due to Company Funds 27,500.00 $56,018,246.95 



1953 REGISTRAR OF LOAN CORPORATIONS 73 



GUARANTY TRUST COMPANY OF CANADA (Cont'd) 

Summary of Liabilities 

Company Funds $ 2,668,298.91 

Guaranteed Funds 22,050,195.04 

Estates, Trusts and Agency Funds 56,018,246.95 



Grand Total of Liabilities $80,736,740.90 



REVENUE ACCOUNT 
Income 

Rents earned, net — on office premises $ 12,105.91 

Interest and dividends earned on: 

(a) Collateral loans $ 17,178.07 

(b) Bonds and debentures 54,267.18 

(c) Dividends on stocks • 24,147.28 

(d) Bank deposits 2,510.79 

(e) Other interest earned 1,475.98 99,579.30 



Profit on sale of securities 15,113.20 

Profit in guaranteed funds 283,917.51 

Agency fees and commissions earned 508,143.98 

All other revenue for the year 18,908.50 



Total $ 937,768.40 



Expenditure 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 85,392.49 

(b) Provincial 3,599.09 

(c) Municipal 8,480.78 $ 97,472.36 



Commissions on loans 10,447.30 

All other expenses incurred: 

(a) Salaries $ 416,222.35 

(b) Directors' and Advisory Committee fees 8,970.00 

(c) Auditors' fees 6,400.00 

(d) Legal and appraisal fees 12,759.13 

(e) Rents 55,143.36 

(f) Travelling expenses 23,246.17 

(g) Printing and stationery 20,336.83 

(h) Advertising 35,076.69 

(i) Postage telegrams, telephones and express 18,812.25 

(j) Commission on sale of G.I. Certificates 917.59 

(k) Maintenance of office premises 9,714.30 

(1) Miscellaneous 96,263.75 703,862.42 



Net profit transferred to Profit and Loss Account 125,986.32 



Total $ 937,768.40 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 200,547.33 

Amount transferred from Revenue Account 125,986.32 

Premium on capital stock sold during year 70,000.00 



Total $ 396,533.65 



Dividends to shareholders declared during year $ 95,576.19 

Amount transferred to Reserve Fund 250.000.00 

Balance of account at December 31, 1952 50,957.46 



Total 



$ 396,533.65 



74 



THE REPORT OF THE 



GUARANTY TRUST COMPANY OF CANADA (Concl'd) 
MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Bankers and Brokers Blanket Bond — $100,000.00, 
issued by Canadian General Insurance Company, No. 8B9483 to expire November 6, 1953. 

Dividends and bonuses declared during year — (a) dates declared (b) dates payable (c) rates: 

(a) March 25, 1952 (b) April 15, 1952 (c) 13% t per share @ rate of 5}^% per annum. 

(a) June 17, 1952 (b) July 15, 1952 (c) 13% t per share @ rate of 5^% per annum. 

(a) September 16, 1952 (b) October 15, 1952 (c) 13% { per share @ rate of 53^% per annum. 

(a) December 16, 1952 (b) January 15, 1953 (c) 15^ per share @ rate of 6% per annum. 
Date appointed for the Annual Meeting — fourth Thursday in January each year. 
Date of last Annual Meeting— January 22, 1953. 
Special General Meeting held during year — March 25, 1952. 

Amount belonging to Estates Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $772,311.74. 

Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 
unpaid— $48,797.50. 

CONSTATING INSTRUMENTS 

Incorporated on June 12, 1925, by Special Act of Parliament of Dominion of Canada; regis- 
tered as a Trust Company in Ontario, May 13, 1926. 

Fidelity Trusts Company of Ontario. By Order-in-Council dated November 29, 1940, the 
Lieutenant-Governor in Council formally approved an agreement dated October 8, 1940, by 
which "Guaranty Trust Company of Canada" purchased certain assets and assumed the liabi- 
lities of the "Fidelity Trusts Company of Ontario." The "Fidelity Trusts Company of Ontario" 
ceased registry June 30, 1941. 

Niagara Falls Loan and Savings Company, Guaranty Trusts Company of Canada. An agree- 
ment between these companies dated December 20, 1943, ratified by shareholders of both com- 
panies on December 29 and 30, 1943, respectively, whereby the assets and liabilities of the loan 
corporation were taken over and assumed by the Trust Company as of January 13, 1944, was 
approved by an Order-in-Council dated January 13, 1944. 

Capital Trust Corporation, Limited; Guaranty Trust Company of Canada. An agreement 
between these companies dated March 6, 1947, whereby the assets and liabilities of Capital 
Trust Corporation, Limited, were taken over and assumed by Guaranty Trust Company of 
Canada, was approved, ratified and confirmed by the shareholders of both companies on April 
30, 1947, and was approved by Order-in-Council on June 12, 1947. 



SCHEDULE B 



Summary of Mortgage Loans and Agreements For Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Guaranteed Funds 
Ontario (a) 


$ c. 
1,803.87 
9,628,613.41 
278,964.69 
34,173.58 


$ c. 


$ c. 


$ c. 
26.89 
37,669.75 
2,347.85 
81.77 


$ c. 
1,830.76 
9,671,099.74 
281,696.72 
34,265.97 


Ontario (b) 

Quebec (b) 

British Columbia (b) 


1,875.46 
234.82 
10.62 


2,941.12 
149.36 


Totals (a) 




1,803.87 
9,941,751.68 






26.89 
40,099.37 


1,830.76 
9,987,062.43 


Totals (b) 

Grand Totals 


2,120.90 


3,090.48 


9,943,555.55 


2,120.90 


3,090.48 


40,126.26 


9,988,893.19 



1953 



REGISTRAR OF LOAN CORPORATIONS 



75 



THE INDUSTRIAL MORTGAGE AND TRUST COMPANY 
Head Office, Sarnia, Ont. 

Officers 

President, John Cowan, Q.C., 1st Vice-President, Homer J. Lockhart; 2nd Vice-President, 
William J. Skinner; Manager and Secretary, B. Charlton; Treasurer, D. M. Rose. 

Directors 

John Cowan, Q.C., Homer J. Lockhart, William J. Skinner, William R. Paul, Malcolm 
McGugan, William D. Mackenzie, John H. Moffatt, Calvert M. Carruthers, M.D., 
F.R.C.S., William D. Ferguson, George Parker. 

Auditors 

G. D. Campbell, F.C.A., and T. E. Lawless, F.C.A., of Campbell, Lawless, Parker & Black, 
Chartered Accountants. 

Branch Offices 

Forest, Ont.; Petrol ia, Ont. 

Capital Stock 

Amount of Capital Stock authorized (20,000 shares of $50.00 each) $ 1,000,000.00 

Amount subscribed and paid in cash 635,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises $ 64,121.25 

Book value of real estate held for sale — freehold land (including buildings) 1.00 

Amount secured by mortgages on real estate including: 

First mortgages $ 290,560.69 

Agreements for sale 212,504.40 503,065.09 

(See Schedule B.) 

Amount of loans secured by stocks, bonds and other collateral : 

(There is included in the collateral $24,800.00 of the Company's own stock, 

upon which $24,800.00 has been paid.) 
Principal 167,907.89 

Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $ 192,135.60 

Interest accrued 1,027.89 $ 193,163.49 



(b) Provinces of Canada, including 

guarantees $ 110,291.88 

Interest accrued 1,533.10 111,824.98 



(c) Canadian municipalities, school districts and rural tele- 
phone companies 2 , 53 1 . 84 

(d) All other bonds $ 15,000.00 

Interest accrued 58.32 15,058.32 322,578.63 



Book value of stocks 8,947.50 

Cash on hand 33,856.68 

Cash on deposit with chartered banks in Canada 52,570.35 

Advances to estates, trusts, etc., under administration 59,711.23 

All other assets 17,060.00 



Total Company Funds $ 1,229,819.62 



Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 4,206,907.08 

Interest accrued 2,044.35 $ 4,208,951.43 

(See Schedule B.) 



76 



THE REPORT OF THE 



THE INDUSTRIAL MORTGAGE AND TRUST COMPANY (Cont'd) 



Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 



(b) Provinces of Canada, including 



(c) Canadian municipalities, school districts 

and rural telephone companies $ 266,611.45 

Interest accrued 1,103.41 $ 267,714.86 

(d) All other bonds 230,992.40 3,216,489.14 



Book value of stocks 170,756.72 

Cash on hand 39,961.82 

Cash on deposit with chartered banks in Canada 407,892.95 



Total Guaranteed Funds $ 8,044,052.06 



Estates, Trusts and Agency Funds 

Unrealized assets $1,117,321.03 

Investments , 319,793.11 

Cash on hand and in banks 70,306.89 $ 1,507,421.03 



Summary of Assets 

Company Funds $ 1,229,819.62 

Guaranteed Funds 8,044,052.06 

Estates, Trusts and Agency Funds 1,507,421.03 



Grand Total of Assets $10,781,292.71 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 28,350.43 

Dividends to shareholders declared and unpaid 25,400.00 

All other liabilities 7,623.84 



Total $ 61,374.27 



To the Shareholders: 

Paid-in Capital $ 635,000.00 

Reserve Fund 450,000.00 

Balance of Profit and Loss Account 83,445.35 



Total $ 1,168,445.35 



Total Company Funds $ 1,229,819.62 



Guaranteed Funds 

Trust deposits— Principal $4,520,002.69— Interest $14,250.16 $ 4,534,252.85 

General Guaranteed Funds $ 3,449,776.68 

Interest due and accrued 60,022.53 3,509,799.21 



Total Guaranteed Funds $ 8,044,052.06 



Estates, Trusts and Agency Funds 

Estates $ 1,062,065.25 

Trusts and Agencies 385,644.55 

Due to Company Funds 59,711.23 $ 1,507,421.03 



1953 



REGISTRAR OF LOAN CORPORATIONS 



77 



THE INDUSTRIAL MORTGAGE AND TRUST COMPANY (Cont'd) 



Summary of Liabilities 

Company Funds $ 1,229,819.62 

Guaranteed Funds 8,044,052.06 

Estates, Trusts and Agency Funds 1,507,421.03 



Grand Total of Liabilities $10,781,292.71 



REVENUE ACCOUNT 
Income 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 43,612.86 

(b) Collateral loans 7,061.02 

(c) Bonds and debentures 9,733.83 

(d) Dividends on stocks 600.00 

(e) Other interest earned 889.84 $ 61,897.55 



Profit on sale of securities and real estate 7,098.24 

Profit in guaranteed funds 150,419.86 

Agency fees and commissions earned 8,370.35 

All other revenue for the year 4,120.01 



Total $ 231,906.01 



Expenditure 

Interest incurred $ 413.21 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 55,009.06 

(b) Municipal 1,336.27 56,345.33 



Commissions on loans and on sale of real estate 3,718.81 

All other expenses incurred: 

(a) Salaries $ 62,841.60 

(b) Directors' and Advisory Committee fees 2,500.00 

(c) Auditors' fees 3.000.00 

(d) Legal fees 230.10 

(e) Travelling expenses 1,655.66 

(f) Printing and stationery 5,150.38 

(g) Advertising 4,323.79 

(h) Postage, telegrams, telephones and express 1,021.56 

(i) Maintenance of office premises 4,899.48 

(j) Miscellaneous 17,812.91 103,435.48 



Net profit transferred to Profit and Loss Account 67,993.18 



Total $ 231,906.01 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 65,401.92 

Amount transferred from Revenue Account 67,993.18 



Total $ 133,395.10 



Dividends to shareholders declared during year $ 44,450.00 

Contributed to Staff Pension Fund 5,499.75 

Balance of account at December 31, 1952 83,445.35 



Total $ 133,395.10 



78 



THE REPORT OF THE 



THE INDUSTRIAL MORTGAGE AND TRUST COMPANY (Concl'd) 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — British American Assurance Co. Fidelity Bond 
No. 580124 in total $20,000.00, including money and securities and all the officers of the 
Company, clerks or employees in any capacity. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) May 7, 1952 (b) July 2, 1952 (c) 3% 

(a) October 29, 1952 (b) January 2, 1953 (c) 3% plus 1% bonus 

Date appointed for the Annual Meeting — February 3, 1953, first Tuesday in February. 

Date of last Annual Meeting — February 5, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $8,181.92. 

Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 
unpaid— $28,983.11. 

CONSTATING INSTRUMENTS 

Incorporated under The Building Societies Act, R.S.O. 1887, c. 169, by declaration filed 
with the Clerk of the Peace for the County of Lambton, August 20, 1889. 

By Order-in-Council approved March 6, 1907, pursuant to the provisions of Section 4 (6), 
cap. 27, 63 Victoria, the authorized capital stock of the Company was increased from $500,000.00 
to $1,000,000.00. 

By 18 George V, chapter 112, the Company was given Trust Company powers and its name 
changed to The Industrial Mortgage and Trust Company. 

By 24 George V, chapter 79, the Company assumed the liabilities and purchased under agree- 
ment the business, assets, etc., of The East Lambton Farmers' Loan and Savings Company. 

The lending and borrowing powers are governed by The Loan and Trust Corporations Act. 

By Order-in-Council approved April 22, 1936, the Lieutenant-Governor assented to The 
Industrial Mortgage and Trust Company assuming the liabilities and purchase under agreement 
dated December 24, 1935, of the business, assets, etc., of The Crown Savings and Loan Company. 

SCHEDULE B 



Summary of Mortgage Loans and Agreements For Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 

(a) Farm 

(b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due 


Interest 
Accrued 


Totals 


Amount of 
Interest 

Due 
and Not 
Charged 


Company Funds 
Ontario (a) 


$ c. 
328,124.44 
188,108.06 
50,943.62 
6,082.66 


$ c. 
992.07 
1,069.19 
38.58 


$ c. 


$ c. 


$ c. 
329,116.51 
189,177.25 
50,982.20 
6,082.66 


$ c. 
5,313.56 

68.68 
8,193.93 

44.98 


Ontario (b) 






Saskatchewan ... (a) 
Alberta (a) 






Total Company 
Funds 








573,258.78 


2,099.84 






575,358.62 


13,621.15 


Guaranteed 
Funds 

Ontario (a) 

Ontario (b) 

Total Guaranteed 
Funds 

Totals (a) 
Totals (b) 

Grand 

Totals 






1,127,404.20 
3,102,448.61 


792.77 
2,240.36 


366.66 
169.48 


1,787.08 
257.27 


1,130,350.71 
3,105,115.72 


11,789.25 
13,676.24 


4,229,852.81 


3,033.13 


536.14 


2,044.35 


4,235,466.43 


25,465.49 


1,512,554.92 
3,290,556.67 


1,823.42 
3,309.55 


366.66 
169.48 


1,787.08 
257.27 


1,516,532.08 
3,294,292.97 


25,341.72 
13,744.92 


4,803,111.59 


5,132.97 


536.14 


2,044.35 


4,810,825.05 


39,086.64 



1953 



REGISTRAR OF LOAN CORPORATIONS 



79 



THE LAMBTON TRUST COMPANY, LIMITED 
Head Office, Sarnia, Ont. 

Officers 

President, Chester H. Belton; Vice-President, J. A. Smith; Manager, G. C. Norsworthy; 
Secretary-Treasurer, E. A. Pardee. 

Directors 

Chester H. Belton, J. A. Smith, W. A. Donohue, W. H. Kenny, J. F. Roberts, M.D., 
F. H. Walker, G. C. Norsworthy, H. M. Taylor, Q.C. 

Auditors 

W. D. Glendinning, F.C.A., W. F. MacLennan, C.A., of the firm of Glendinning, Jarrett, 
Gray and Roberts. 

Capital Stock 

Amount of Capital Stock authorized (20,000 shares of $50.00 each) $ 1,000,000.00 

Amount subscribed and paid in cash 315,350.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 
Amount secured by mortgages on real estate including: 

First mortgages $ 204,240.29 

Interest due 656.27 $ 204,896.56 

(See Schedule B) 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 94,810.00 

Interest accrued 748.00 $ 95,558.00 

(b) Canadian municipalities, school districts 

and rural telephone companies $ 53,700.00 

Interest accrued 510.00 54,210.00 

(c) All other bonds $ 8,175.00 

Interest accrued 34.00 8,209.00 157,977.00 

Book value of stocks 32 ,97 1 .92 

Cash on deposit with chartered banks in Canada 4,924.12 

Advances to estates, trusts, etc.. under administration 2,400.00 

All other assets 98.41 

Total Company Funds $ 403,268.01 

Estates, Trusts and Agency Funds 

Unrealized assets $ 1,004,824.15 

Investments 1 ,050,335.65 

Cash on hand and in banks 131,510.58 $ 2,186,670.38 

Summary of Assets 

Company Funds $ 403,268.01 

Estates, Trusts and Agency Funds 2,186,670.38 

Grand Total of Assets $ 2,589,938.39 



80 



THE REPORT OF THE 



THE LAMBTON TRUST COMPANY, LIMITED (Cont'd) 

Liabilities 



Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 3,503.65 



Total $ 3,503.65 



To the Shareholders: 

Paid-in Capital $ 315,350.00 

Reserve Fund 75,000.00 

Balance of Profit and Loss Account 9,414.36 



Total $ 399,764.36 



Total Company Funds $ 403,268.01 



Estates, Trusts and Agency Funds 

Estates $ 489,662.23 

Trusts and Agencies 1,694,608.15 

Due to Company Funds 2,400.00 $ 2,186,670.38 



Summary of Liabilities 

Company Funds $ 403,268.01 

Estates, Trusts and Agency Funds 2,186,670.38 



Grand Total of Liabilities $ 2,589,938.39 



REVENUE ACCOUNT 
Income 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 10,105.79 

(b) Bonds and debentures 5,320.50 

(c) Dividends on stocks 2,971.25 $ 18,397.54 



Profit on sale of securities and real estate 338.95 

Agency fees and commissions earned 14,940.11 

All other revenue for the year 1,061.09 



Total $ 34,737.69 



Expenditure 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 6,100.00 

(b) Registration and Filing fees etc 547.00 $ 6,647.00 



All other expenses incurred : 

(a) Salaries $ 9,518.00 

(b) Directors' and Advisory Committee fees 400.00 

(c) Auditors' fees 450.00 

(d) Legal fees 71.00 

(e) Rents and general office expenses 2,100.00 

(f) Travelling expenses 455.00 

(g) Printing and stationery 224.65 

(h) Advertising 104.12 

(i) Miscellaneous 171.65 13,495.02 



Net profit transferred to Profit and Loss Account 14,595.67 



Total $ 34,737.69 



1953 REGISTRAR OF LOAN CORPORATIONS 81 

THE LAMBTON TRUST COMPANY, LIMITED (Concl'd) 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 7,432.69 

Amount transferred from Revenue Account 14,595.67 

Total $ 22,028.36 

Dividends to shareholders declared during year $ 12,614.00 

Balance of account at December 31, 1952 , . . . 9,414.36 

Total $ 22,028.36 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Employers' Liability Insurance Company, No. 
202067, October 24, 1954— $50,000.00, blanket coverage. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 

(a) November 21, 1952 (b) December 31, 1952 (c) 4% 

Date appointed for the Annual Meeting — February 4, 1953. 
Date of last Annual Meeting — February 1, 1952. 



CONSTATING INSTRUMENTS 

Incorporated on April 26, 1928, by Letters Patent of Ontario, issued under The Loan and 
Trust Corporations Act. R.S.O. 1927, chapter 223. Registered as a trust company in Ontario, 
May 15, 1928. 

SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 




Principal 


Interest 








Outstand- 


Due and 


Totals 


(a) Farm (b) Urban 




ing 


Unpaid 




Company Funds 




$ c. 


$ c. 


$ c. 


Ontario 


■ (a) 


39,720.22 


33.49 


39,753.71 


Ontario 


■(b) 


164,520.07 


622.78 


165,142.85 


Totals 


■ (a) 


39,720.22 


33.49 


39,753.71 


Totals 


■ (b) 


164,520.07 


622.78 


165,142.85 


Grand Totals 




204,240.29 


656.27 


204,896.56 



82 



THE REPORT OF THE 



MONTREAL TRUST COMPANY 

Head Office, Montreal, Que. 

Officers 

Chairman of the Board, W. H. Howard, C.B.E., Q.C.; President, O. B. Thornton, O.B.E.; 
Vice-President, James Muir; General Manager, D. E. Kerlin; Assistant General Managers, 
J. C. Kelly, G. A. Goad, S. A. Cobbett; Secretary, M. C. Holt. 

Directors 

D. W. Ambridge, C.B.E., T. H. Atkinson, Hon. F. Philippe Brais, C.B.E., Q.C., LL.D., 
J. M. Breen, Harold Crabtree, C.B.E., Victor M. Drury, John E. L. Duquet, Q.C., Lionel 

A. Forsyth, Q.C., Hon. George B. Foster, Q.C., J. A. Fuller, Severe Godin, A. E. Grauer, 
Col. R. Dickson Harkness, D.S.O., M.C., G. M. Hobart, Andrew P. Holt, Wilbert H. 
Howard, C.B.E., Q.C., Robert H. B. Ker, E. M. Little, Harold M. Long, O.B.E., Malcolm 
W. McCutcheon, C.B.E., Q.C., H. R. Milner, Q.C., B. L. Mitchell, James Muir, Alfred 
T. O'Leary, Lazarus Phillips, O.B.E., Q.C., C. S. Riley, Frank W. Ross, James McG. 
Stewart, C.B.E., Q.C., Osmond B. Thornton, O.B.E., J. S. D. Tory, O.B.E., Q.C., Colin 
W. Webster. 

Auditors 

Deloitte, Plender, Haskins & Sells. 

Branch Offices 

Toronto, Ont.; Halifax, N.S.; Winnipeg, Man.; Calgary, Alta.; Edmonton, Alta.; Vancouver, 

B. C.; Victoria, B.C.; London, Eng. 

Capital Stock 

Amount of Capital Stock authorized (400,000 shares of $5.00 each) $ 2,000,000.00 

Amount subscribed and paid in cash 2,000,000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 

Assets 
Company Funds 

Office premises $ 150,781.78 

Archives Building 20,281.26 

Amount secured by mortgages on real estate including: 

First mortgages $ 1,159,265.48 

Second and subsequent mortgages 624,623.30 

Interest due 1,397.35 

Interest accrued 9,892.73 1,795,178.86 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral: 

Principal $ 64,747.61 

Interest due 105.28 64,852.89 



Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $ 483,750.00 

Interest accrued 1,250.00 $ 485,000.00 



(b) Provinces of Canada, including 

guarantees $ 247,125.00 

Interest accrued 2,906.24 250,031.24 



(c) Canadian municipalities, school dis- 
tricts and rural telephone companies. $ 178,875.00 
Interest accrued 916.66 179,791.66 



(d) All other bonds $ 1,078.709.62 

Interest accrued 8,136.10 1,086,845.72 2,001,668.62 



Book value of stocks 4,035,929.04 

Cash on hand 1,671.12 

Cash on deposit with chartered banks in Canada, $158,013.61; 

elsewhere, $4.82 158.018.43 

Cash on deposit — Government of Trinidad Deposit Receipt 10,000.00 

Advances to estates, trusts, etc., under administration 307,537.01 

Accrued fees and charges for administering estates 312,613.50 

All other assets 196,068.21 

Total Company Funds $ 9,054,600.72 



1953 



REGISTRAR OF LOAN CORPORATIONS 



83 



MONTREAL TRUST COMPANY (Cont'd) 

Guaranteed Funds 
Amount secured by mortgages on real estate including : 

First mortgages $ 79,662.13 

Interest accrued 315.46$ 79,977.59 

(See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 1,700,586.38 

Interest due 2,231.49 1,702,817.87 



Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $20,186,621.34 

Interest accrued 142,074.33 $20,328,695.67 



(b) Provinces of Canada, including 

guarantees $ 1,804,304.45 

Interest accrued , 13,696.56 1,818,001.01 



(c) Canadian municipalities, school dis- 
tricts and rural telephone companies. $ 217,190.33 

Interest accrued 1,490.60 218,680.93 

(d) All other bonds $ 7,055,184.37 

Interest accrued 43,086.30 7,098,270.67 29,463,648.28 



Cash on deposit with chartered banks in Canada 9,282,347.52 

Total Guaranteed Funds $ 40,528,791.26 



Estates, Trusts and Agency Funds 

Investments and unrealized assets $933,454,489.12 

Cash on hand and in banks 40,555,596.93 $ 974,010,086.05 



Summary of Assets 

Company Funds $ 9,054,600.72 

Guaranteed Funds 40,528,791.26 

Estates, Trusts and Agency Funds 974,010,086.05 



Grand Total of Assets $1,023,593,478.03 



Liabilities 

Company Funds 

To the Public: 

(a) Money borrowed from banks — without security $ 10,000.00 

(b) Money borrowed elsewhere — without security from Subsidiary 

Companies 86,522.97 

Taxes other than taxes on real estate 233,062.44 

Dividends to shareholders declared and unpaid 80,000.00 

All other liabilities 62,308.38 



Total $ 471,893.79 



To the Shareholders: 

Paid-in Capital $ 2,000,000.00 

Reserve Fund 6,000,000.00 

Balance of Profit and Loss Account 582,706.93 



Total _ $ 8,582,706.93 



Total Company Funds $ 9,054,600.72 



Guaranteed Funds 

Specific Guaranteed Funds $ 79,662.13 

General Guaranteed Funds 40,449,129.13 



Total Guaranteed Funds $ 40,528,791.26 



84 



THE REPORT OF THE 



MONTREAL TRUST COMPANY (Cont'd) 

Estates, Trusts and Agency Funds 

Estates and Trusts $272,581,554.24 

Agencies and Safe-Custody 701,120,994.80 

Due to Company Funds 307,537.01 $ 974,010,086.05 

Summary of Liabilities 

Company Funds $ 9,054,600.72 

Guaranteed Funds 40,528,791.26 

Estates, Trusts and Agency Funds 974,010,086.05 

Grand Total of Liabilities $1,023,593,478.03 



REVENUE ACCOUNT 
Income 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 79,311.88 

(b) Collateral loans 3,992.34 

(c) Bonds and debentures 64,554.35 

(d) Dividends on stocks 184,785.38 

(e) Bank deposits 95,898.54 

(f) Other interest earned 10,657.50 439,199.99 

Profit in guaranteed funds 194,529.50 

Agency fees and commissions earned 2,176,595.92 



Total $ 2,810,325.41 



Expenditure 

License fees and taxes other than taxes on real estate : 

(a) Dominion $ 413,980.63 

(b) Provincial 46,436.20 

(c) Municipal 19,467.94 $ 479,884.77 

All other expenses incurred : 

(a) Salaries $ 1,261,102.80 

(b) Directors' and Advisory Committee fees 20,000.00 

(c) Auditors' fees 19,475.74 

(d) Legal fees 11.191.70 

(e) Rents 153,623.59 

(f) Travelling expenses 33,996.50 

(g) Printing and stationery 36,318.07 

(h) Advertising 41,385.97 

(i) Postage, telegrams, telephones and express 31,885.56 

(j) Maintenance of office premises 30,146.56 

(k) Miscellaneous 203,144.58 $ 1,842,271.07 

Net profit transferred to Profit and Loss Account 488,169.57 

Total $ 2,810,325.41 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 994,537.36 

Amount transferred from Revenue Account 488,169.57 

Total $ 1,482,706.93 

Dividends k> shareholders declared during year $ 400,000.00 

Amount transferred to Reserve Fund 500,000.00 

Balance of account at December 31, 1952 582,706.93 

Total $ 1,482,706.93 



1953 



REGISTRAR OF LOAN CORPORATIONS 



85 



MONTREAL TRUST COMPANY (Concl'd) 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Canadian Surety Company Brokers Blanket 
Bond No. 189305 expiring May 10, 1954. All officers and employees of this Company are bonded 
to the extent of $100,000.00 in the aggregate, in respect of any loss sustained by reason of infidelity 
or dishonesty by any or all of its employees. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 



(a) 
(a) 
(a) 
(a) 
(a) 



January 22, 1952 
January 22, 1952 
May 6, 1952 
July 29, 1952 
October 28, 1952 



(b) 
(b) 
(b) 
(b) 
(b) 



April 15, 1952 
April 15, 1952 
July 15, 1952 
October 15, 1952 
January 15, 1953 



(c) 20c. per share 

(c) 20c. per share (extra) 

(c) 20c. per share 

(c) 20c. per share 

(c) 20c. per share 



Date appointed for the Annual Meeting — Not later than four months from the end of the Com- 
pany's financial year. 
Date of last Annual Meeting — February 20, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $2,744,767.81. 



CONSTATING INSTRUMENTS 

The Montreal Trust Company was incorporated on March 21, 1889, by Special Act of the 
Province of Quebec, 52 Vic. c. 72 (Q), and the following subsequent special amending Acts: 
54 Vic, c. 75; 55-56 Vic, c. 78; 63 Vic, c. 77; 20 Geo. V, c. 139; and 24 Geo. V, c. 121. 

By Special Acts the name was changed in 1895 to Montreal Trust and Deposit Company 
59 Vic, c. 70 (Q), and again in 1909 to the Montreal Trust Company, 9 Edw. VII, c. 115 (Q). 

Authorized by Order-in-Council to carry on business in the Province of Ontario as from 
March 11, 1909, subject to certain conditions and limitations. 

Registered in the Trust Companies Register, January 21, 1913. 

By Order-in-Council dated February 25, 1928, the capital stock was increased from 
$1,000,000.00 to $2,000,000.00. 

The Company has a deposit with the Province of Ontario amounting to $200,000.00. 
Order-in-Council assented to July 6, 1909. 



SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstanding 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Company Funds 

Quebec (b) 

Ontario (b) 

Ontario (a) 

Manitoba (b) 

British Columbia (b) 

Alberta (b) 


$ c. 
477,058.55 
515,479.37 
2,700.00 
167,633.38 
38,418.36 
568,743.33 
7,522.08 
10,333.71 
26,000.00 


$ c. 
582.04 
677.69 

137.62 


$ c 
5,478.22 
1,950.20 
6.66 
669.73 
124.14 
1,378.47 
23.80 
37.13 
224.38 


$ c 
483,118.81 
518,107.26 
2,706.66 
168,440.73 
38,542.50 
570,121.80 
7,545.88 
10,370.84 
26,224.38 


Newfoundland (b) 

Nova Scotia (b) 

U.S.A. (New York) (b) 

Total Company Funds 

Guaranteed Funds 
Quebec (b) 




1,813,888.78 


1,397.35 


9,892.73 


1,825,178.86 


79,662.13 




315.46 


79,977.59 







86 



THE REPORT OF THE 



NATIONAL TRUST COMPANY, LIMITED 

Head Office, Toronto, Ont. 

Officers 

President and Chairman of the Board, R. A. Laidlaw; Vice-Presidents, Sir Thomas White, 
G.C.M.G., G. A. Morrow, A. N. Mitchell; Executive Vice-President, J. G. Hungerford; 
General Manager, H. H. Wilson; Secretary, E. H. Ainlay; Treasurer, E. H. Heeney; Asst. 
General Manager, R. W. Pearson. 

Directors 

E. G. Baker, Henry Borden, C.M.G., Q.C., R. A. Bryce, H. D. Burns, R. Y. Eaton, 
E. C. Fox, H. P. Frid, E. C. Gill, C. Bruce Hill, The Honourable F. J. Hughes, Q.C., 
J. G. Hungerford, R. A. Laidlaw, W. F. Macklaier, Q.C., Argue Martin, Q.C., John L. 
McCarthy, A. N. Mitchell, G. A. Morrow, Graham Morrow, O.B.E., Balmer Neilly, 
LL.D., W. M. O'Connor, Colin Osborne, F. A. Sherman, E. P. Taylor, C.M.G., S. M. Wedd, 
The Right Honourable Sir Thomas White, G.C.M.G., F. P. Wood. 

Auditors 

W. L. Gordon, F.C.A., and A. J. Little, C.A., of Clarkson, Gordon & Co. 

Branch Offices 

Montreal, Que.; Hamilton, Ont.; Winnipeg, Man.; Edmonton, Alta.; Calgary, Alta.; Van- 
couver, B.C., Victoria, B.C. 

Capital Stock 

Amount of Capital Stock authorized (500,000 shares of $10.00 each) $ 5,000,000.00 

Amount subscribed and paid in cash 3,000,000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 

Assets 

Company Funds 

Office premises $ 870.348.30 

Amount of loans secured by stocks, bonds and other collateral — principal 119,507.76 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 2,783,015.53 

(b) Provinces of Canada, including guarantees 620,356.28 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 391,620.86 

(d) All other bonds 1.111,741.96 4,906,734.63 

Book value of stocks 703,253.87 

Cash on hand 25,986.86 

Cash on deposit with chartered banks in Canada, $30,490.71; 

elsewhere $150,058.59 180.549.30 

Advances to estates, trusts, etc., under administration 83,790.80 



Total Company Funds S 6,890,171.52 



Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages 8 6,043,266.46 

Second and subsequent mortgages 59,415.00 $ 6,102,681.46 

{See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral — principal 140,000.00 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $10,05o,931.51 

(b) Provinces of Canada, including guarantees 5,795,605.71 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 2 ,929,394 . 1 4 

(d) All other bonds 1,786.490.14 20,567,421.50 

Book value of stocks 1 ,354,993.43 

Cash on hand 135,359.06 

Cash on deposit with chartered banks in Canada 800.050.02 

Total Guaranteed Funds $29,100,505.47 



1953 



REGISTRAR OF LOAN CORPORATIONS 



87 



NATIONAL TRUST COMPANY, LIMITED (Cont'd) 

Estates, Trusts and Agency Funds 

Unrealized assets $152,521,585.72 

Investments 214,059,420.74 

Cash on hand and in banks 17,465,585.24 $384,046,591.70 

Summary of Assets 

Company Funds $ 6,890,171.52 

Guaranteed Funds 29,100,505.47 

Estates, Trusts and Agency Funds 384,046,591.70 

Grand Total of Assets $420,037,268.69 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 158,330.64 

Dividends to shareholders declared and unpaid 75,000.00 

Total $ 233,330.64 

To the Shareholders: 

Paid-in Capital $ 3,000,000.00 

Reserve Fund 3,000,000.00 

Balance of Profit and Loss Account 656,840.88 

Total $ 6,656,840.88 

Total Company Funds $ 6,890,171.52 

Guaranteed Funds 

Savings deposits $29,100,505.47 

Total Guaranteed Funds $29,100,505.47 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $383,962,800.90 

Due to Company Funds 83,790.80 $384,046,591.70 

Summary of Liabilities 

Company Funds $ 6,890,171.52 

Guaranteed Funds 29,100,505.47 

Estates, Trusts and Agency Funds 384,046,591.70 

Grand Total of Liabilities $420,037,268.69 



REVENUE ACCOUNT 



Income 

Interest and Dividends earned on: 

(a) Mortgages and agreements for sale $ 86,481.68 

(b) Collateral loans 203.30 

(c) Bonds and debentures 139 ,305 . 1 8 

(d) Dividends on stocks 22,863.24 

(e) Other interest earned 228.51 $ 249,081.91 



Profit in guaranteed funds 592,067.50 

Agency fees and commissions earned 2,677,370.10 

All other revenue for the year 30,308.77 



Totals $ 3,548,828.28 



88 



THE REPORT OF THE 



NATIONAL TRUST COMPANY, LIMITED (Cont'd) 
Expenditure 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 284,933.07 

(b) Provincial 20,450.53 

(c) Municipal 26,356.06 $ 331,739.66 

Commissions on loans and on sale of real estate 4,581.28 

All other expenses incurred: 

(a) Salaries $ 1,794,044.33 

(b) Directors' and Advisory Committee fees 36,538.39 

(c) Auditors' fees 25,000.00 

(d) Legal fees 25,217.67 

(e) Rents 15,644.74 

(f) Travelling expenses 14,525.41 

(g) Printing and stationery 48,382.31 

(h) Advertising 86,926.34 

(i) Postage, telegrams, telephones and express 41,652.87 

(j) Maintenance of office premises 155,426.83 

(k) Miscellaneous 546,617.44 2,789,976.33 

Net profit transferred to Profit and Loss Account 422,531.01 

Totals $ 3,548,828.28 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 594,309.87 

Amount transferred from Revenue Account 422,531.01 

Amount transferred from investment reserves 703,204.01 

Total $ 1,720,044.89 

Dividends to shareholders declared during year $ 360,000.00 

Amount transferred to pension fund 703,204.01 

Balance of account at December 31, 1952 656,840.88 

Totals $ 1,720,044.89 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation— Broker's blanket bond No. 483906 with the 
Western Assurance Co. for $500,000.00 expiring February 1, 1954. 

Dividends and bonuses declared during year— (a) dates declared, (b) dates payable, (c) rates: 
(a) March 5, 1952 (b) April 1, 1952 (c) 25c 

(a) June 4, 1952 (b) July 2, 1952 (c) 25c 

(a) September 3, 1952 (b) October 1, 1952 (c) 25c 

(a) November 5, 1952 (b) December 1, 1952 (c) 20c (bonus) 

(a) December 3, 1952 (b) January 2, 1953 (c) 25c 

Date appointed for the Annual Meeting — January 27, 1953. 

Date of last Annual Meeting— January 22, 1952. 

Amount of interest permanently capitalized during the year — $775.10. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $2,393,237.24. 



CONSTATING INSTRUMENTS 

August 12, 1898— Incorporated August 12, 1898, as The National Trust Company of 
Ontario, Limited, by Letters Patent under The Ontario Companies Act. 

September 21, 1899— Order-in-Council, Province of Ontario, changing name of The National 
Trust Company of Ontario, Limited, to National Trust Company, Limited. 

March 23, 1900— Authorized to do business in the Province of Quebec: chap. 78, Statutes 
of Quebec, 63 Victoria. 

July, 1900— Acquired Manitoba Trust Company by the purchase of its entire assets for 
$115.00 a share of capital stock. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



6* 



NATIONAL TRUST COMPANY, LIMITED (Concl'd) 

June 1, 1900 — Authorized to carry on and transact business in Manitoba: chap. 69, Statutes 
of Manitoba, 63 and 64 Victoria. 1900. 

August, 1924 — Absorbed The Mercantile Trust Company of Canada, Limited, paying one 
share National Trust Company, Limited, stock and $30.00 cash for each two shares The Mercantile 
Trust Company of Canada, Limited, stock. Order-in-Council, Province of Ontario, assenting 
to above absorption. 

July 16, 1946 — Order-in-Council, Province of Ontario, increasing the capital stock of the 
Company from $3,000,000.00 to $5,000,000.00. 

SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as at 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charc.fs 

\s 1 lAIWJL/O 

Outstand- 
ing 


Tntfrf^it 
Due and 
Unpaid 


Guaranteed Funds 
Ontario (a) 


$ c. 
6,350.00 
73,807.65 
301,260.01 
137,595.17 


$ c. 


$ c. 


Manitoba (a) 

Saskatchewan (a) 

Alberta (a) 


—12.00 
342.01 


78,269.33 
40,165.17 
7,850.99 


Totals (a) 

Ontario (b) 

Quebec (b) 




519,012.83 


330.01 


126,285.49 


3,723,823.06 
684,801.92 
263,649.40 
586,899.64 
718,261.91 


82.64 


9,133.30 
101.75 
215.75 
692.84 
84.71 


Manitoba (b) 

Alberta (b) 


275.00 


British Columbia (b) 

Totals (*) 

Total Guaranteed 

Funds 


220.70 


5,977,435.93 


578.34 


10,228.35 


6,496,448.76 


908.35 


136,513.84 



Totals 



$ c. 
6,350.00 
152,064.98 
341,767.19 
145,446.16 



645,628.33 



3,733,039.00 
684,903.67 
264,140.15 
587,592.48 
718,567.32 



5,988,242.62 



6,633,870.95 



Amount of 
Interest 

Due 
and Not 
Charged 



470.78 



470.78 



470.78 



90 



THE REPORT OF THE 



THE NORTHERN TRUSTS COMPANY 
Head Office, Winnipeg, Man. 

Officers 

President, J. Herbert Riley; Vice-Presidents, R. J. Gourley, W. A. Murphy; General 
Manager, H. R. Parker; Secretary, Wm. Milton; Asst. -Secretary, R. S. Richardson; Treasurer, 
L. N. Whitten. 

Directors 

.H. C. Ashdown, H. J. Bird, N. J. Breen, J. A. Crowe, A. L. Denison, R. J. Gourley, 
Gordon E. Konantz, W. A. Murphy, M. A. MacPherson, Q.C., Geo. McLean, Geo. W. 
Northwood, C. S. Riley, H. J. Riley, Q.C., J. Herbert Riley, C. Gordon Smith, O. B. 
Thornton, O.B.E. 

Auditors 
William Gray & Co., C.A. 

Branch Offices 
Regina, Sask.; Calgary, Alta.; Vancouver, B.C.; Victoria, B.C. 

Capital Stock 

Amount of Capital Stock authorized (50,000 shares of $20.00 each) . . $ 1,000,000.00 

Amount subscribed and paid in cash 1,000.000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises $ 23,950.23 

Book value of real estate held for sale— freehold land (including buildings) 8,000.00 

Amount secured by mortgages on real estate including: 

First mortgages $ 230,849.74 

Agreements for sale 31,990.95 262,840.69 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral — principal 9,458.07 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 500,100.00 

(b) Provinces of Canada, including guarantees 199,125.00 

(c) Canadian municipalities, school districts and rural tele- 
phone companies 16,569.09 

(d) All other bonds 257,409.75 973,203.84 



Book value of stocks— Preferred $ 273,983.00 

Common 125,180.73 399.163.73 



Cash on hand 141.56 

Cash on deposit with chartered banks in Canada 34,311.56 

Advances to estates, trusts, etc., under administration 102,851.22 

All other assets 3,425.92 



Total Company Funds $ 1,817,346.82 



Guaranteed Funds 

Amount secured by mortgages on real estate including first mortgages S 19,229.98 

(See Schedule B) 
Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 6,600.00 

(b) Provinces of Canada, including guarantees 75,000.00 81,600.00 



Cash on deposit with chartered banks in Canada 1,041.69 

Total Guaranteed Funds $ 101,871.67 



Estates, Trusts and Agency Funds 

Unrealized assets $15,927,694.76 

Investments 4,107,288.85 

Cash on hand and in banks 892.065.01 $20,927,048.62 



1953 REGISTRAR OF LOAN CORPORATIONS 91 



THE NORTHERN TRUSTS COMPANY (Cont'd) 

Summary of Assets 

Company Funds $ 1,817,346.82 

Guaranteed Funds 101,871.67 

Estates, Trusts and Agency Funds 20,927,048.62 

Grand Total of Assets $22,846,267.11 



Liabilities 

Company Funds 
To the Public: 

Taxes other than taxes on real estate $ 19,397.75 

Other expenses due and accrued 2,716.60 

Investment reserves 20,263.55 

Reserve— Staff Retirement Fund 80,187.62 

All other liabilities 662.50 

Total $ 123,228.02 

To the Shareholders: 

Paid-in Capital $ 1,000,000.00 

Reserve Fund 400,000.00 

Balance of Profit and Loss Account 294,118.80 

Total $ 1,694,118.80 

Total Company Funds S 1,817,346.82 

Guaranteed Funds 

Specific Guaranteed Funds $ 101,871.67 

Total Guaranteed Funds $ 101,871.67 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $20,824,197.40 

Due to Company Funds 102,851.22 $20,927,048.62 

Summary of Liabilities 

Company Funds $ 1,817,346.82 

Guaranteed Funds 101,871.67 

Estates, Trusts and Agency Funds 20,927,048.62 

Grand Total of Liabilities $22,846,267.11 



REVENUE ACCOUNT 



Income 

Rents earned, net — on office premises S 1,280.73 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 17,999.65 

(b) Collateral loans 526.65 

(c) Bonds and debentures 30,958.77 

(d) Dividends on stocks 26,740.39 

(e) Bank deposits 4.182.38 

(f) Other interest earned 2,830.80 83,238.64 



Profit on sale of securities and real estate 795.27 

Profit in guaranteed funds 1,434.76 

Agency fees and commissions earned 155,155.72 

All other revenue for the year 25,747.19 

Transferred from Investment Reserve 6,167.73 



Total S 273,820.04 



92 



THE REPORT OF THE 



THE NORTHERN TRUSTS COMPANY (Cont'd) 

Expenditure 

Loss on sale of securities and real estate owned $ 2,208.45 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 32,286.90 

(b) Provincial 905.60 

(c) Municipal 1,972.40 $ 35,164.90 

Commissions on loans and on sale of real estate 297.75 

All other expenses incurred : 

(a) Salaries... $ 110,649.49 

(b) Directors' and Advisory Committee fees 3,960.00 

(c) Auditors' fees 4,000.00 

(d) Legal fees 4.00 

(e) Rents 11,850.00 

(f) Travelling expenses 2,162.49 

(g) Printing and stationery 4,440.98 

(h) Advertising 5,617.69 

(i) Postage, telegrams, telephones and express 3,2%. 10 

(j) Maintenance of office premises 481.45 

(k) Miscellaneous 23,668.87 170,131.07 

Net profit transferred to Profit and Loss Account 66,017.87 

Total $ 273.820.04 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 268,100.93 

Amount transferred from Revenue Account 66,017.87 

Total $ 334,118.80 

Dividends to shareholders declared during year $ 40,000.00 

Balance of account at December 31, 1952 294,118.80 

Total $ 334,118.80 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Officers and members of the staff insured under 
CCD. 306 of The Canadian Fire Insurance Company of Winnipeg each in the sum of $10,000. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) January 25, 1952 (b) February 1, 1952 (c) 2% 

(a) June 18, 1952 (b) August 1, 1952 (c) 2% 

Date appointed for the Annual Meeting — 2nd Wednesday in February. 

Date of last Annual Meeting — February 11, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 
Department— $83,100.00 Original Assets; $16,384.58 Investments for which the Company 
is responsible. 

CONSTATING INSTRUMENTS 

Incorporated by chapter 60 of Statutes of Manitoba, 1902. 

Incorporated by Act of Parliament of Canada, 13-14 George V, c. 89. Act brought into 
force by proclamation, December 19, 1923. Amalgamation effected January 1, 1924. 

Amended, chapter 56, 1 Edward VIII, 1936; assented to June 2, 1936. 

Registered as a trust company in Ontario, July 2, 1930. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



93 



THE NORTHERN TRUSTS COMPANY (Concl'd) 
SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as at 
December 31, 1952, Classified as to Province 



(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


V-/ n r\ X\ Kj C o 

Ottt^t ANH- 

V_/ U 1 Jl /A. 1\ U 

ING 


Interest 

T)TTF AMD 

Unpaid 


Totals 
Taken 
into 
Balance 
Sheet 


Amount of 

Due 
and Not 
Charged 


Company Funds 

TV/TorntfYh;} (f)} 


$ c. 
40,413.81 
y,4/o.ob 
28,819.69 

A Q 1 A Q 7£. 

4y,14o./o 
95,321.95 
36,627.01 


$ C. 

3 000 00 


$ c. 
96.91 

Q7Q CT\ 

o/o.bU 
65.95 

108.90 


$ c. 
43,413.81 

Q A 7C QC 

y,4/o.ob 
28,819.69 

/I Q 1 QO 97 

4y,loZ.o/ 

95,321.95 
36,627.01 


$ c. 


Manitoba (a) 




Sa^katrhpwan (ti\ 






Saskatchewan (a) 

Alberta (h) 


OO.D1 


n QOQ CC 

/,ozo.bb 


Alberta (n^ 




15 716 6? 


Tot at s 

Guaranteed Funds 
Saskatchewan (b) 






259,802.08 


3,038.61 


673.61 


262,840.69 


?? 045 ?R 


4,191.20 
15,038.78 






4,191.20 
15,038.78 




Alberta (b) 








Totals 








19,229.98 






19,229.98 




Totals (b) 








183,785.43 
95,246.63 


3,000.00 
38.61 


271.76 
401.85 


186,785.43 
95,285.24 




Totals (a) 




Grand Totals 




279,032.06 


3,038.61 


673.61 


282,070.67 









94 



THE REPORT OF THE 



THE PREMIER TRUST COMPANY 

Head Office, Toronto, Ont. 

Officers 

President and General Manager, Thomas B. Holmes; Vice-President, John Dearness, LL.D.; 
Secretary, Norman S. Watt. 

Directors 

Thomas B. Holmes, John Dearness, LL.D., J. G. Holmes, G. E. McCann, A. H. Seguin, 
Norman S. Watt. 

Auditors 

James R. Neff, C.A., and James J. Stone, C.A., of the firm of NefT, Robertson and Stone. 

Branch Offices 

London, Ont.; St. Catharines, Ont. 

Capital Stock 

Amount of Capital Stock authorized (30,000 shares of $100.00 each) $ 3,000,000.00 

Amount subscribed (12,250 shares of $100.00 each) 1,225,000.00 

Amount paid in cash: 

On $1,151,700.00 stock fully called $ 1,151,700.00 

On 73,300.00 stock various % called 32,837.00 $ 1,184,537.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Office premises $ 430,412.76 

Amount secured by mortgages on real estate including: 

First mortgages $ 374,742.18 

Agreements for sale 18,060.36 

Interest due 1,642.06 

Interest accrued 2,949.30 397,393.90 

(See Schedule B) 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 339,667.00 

(b) Interest accrued 1,350.00 341,017.00 

Book value of stocks 285,459.83 

Cash on hand 120.00 

Cash on deposit with chartered banks in Canada 29,519.03 

Advances to estates, trusts, etc., under administration 13,516.15 

All other assets 5,271.13 

Total Company Funds $ 1,502,709.80 

Guaranteed Funds 

Amount secured by mortgages on real estate including: 

First mortgages $ 2,853,499.88 

Interest due 7,007.23 

Interest accrued 28,591.61 $ 2,889,098.72 

(See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 993,677.83 

Interest due 23.18 

Interest accrued 235.73 993,936.74 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including guarantees $ 1,002,077.44 

(b) Interest accrued 6,127.16 $ 1,008,204.60 

Book value of stocks 88,229.30 

Cash on hand 31,589.74 

Cash on deposit with chartered banks in Canada, $103,925.15; 

elsewhere, $11.77 103,936.92 

Total Guaranteed Funds $ 5,114,996.02 



1953 



REGISTRAR OF LOAN CORPORATIONS 



95 



THE PREMIER TRUST COMPANY (Cont'd) 

Estates, Trusts and Agency Funds 

Unrealized assets $ 4,269,671.98 

Investments 2,388,102.56 

Cash on hand and in banks 354,861.20 $ 7,012,635.74 

Summary of Assets 

Company Funds $ 1,502,709.80 

Guaranteed Funds 5,114,996.02 

Estates, Trusts and Agency Funds 7,012,635.74 

Grand Total of Assets $13,630,341.56 

Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 13,525.09 

Dividends to shareholders declared and unpaid 11,845.37 

Other expenses due and accrued 2,075.00 

All other liabilities 577.25 

Total $ 28,022.71 

To the Shareholders: 

Paid-in Capital $ 1,184,537.00 

Reserve Fund 200,000.00 

Balance of Profit and Loss Account 90,150.09 

Total $ 1,474,687.09 

Total Company Funds $ 1,502,709.80 

Guaranteed Funds 

Trust deposits $ 3,282,567.57 

Interest accrued thereon 10,720.88 $ 3,293,288.45 

General Guaranteed Funds $ 1,810,483.58 

Interest due and accrued 11,223.99 1,821,707.57 

Total Guaranteed Funds $ 5,114,996.02 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $ 6.999,119.59 

Due to Company Funds 13,516.15 $ 7,012,635.74 

Summary of Liabilities 

Company Funds $ 1,502,709.80 

Guaranteed Funds 5,114,996.02 

Estates, Trusts and Agency Funds 7,012,635.74 

Grand Total of Liabilities $13,630,341.56 



REVENUE ACCOUNT 



Income 

Rents earned, net — on office premises $ 20,451.18 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 19,275.20 

(b) Bonds and debentures 10,665.75 

(e) Dividends on stocks 16,452.25 

(d) Other interest earned 164.90 $ 46,558.10 



Profit on sale of securities and real estate 86.71 

Profit in guaranteed funds 109,917.52 

Agency fees and commissions earned 113,300.11 

All other revenue for the year 3,040.05 



Total S 293,353.67 



96 



THE REPORT OF THE 



THE PREMIER TRUST COMPANY (Cont'd) 
Expenditure 

Interest incurred $ 1,347.75 

Amount by which ledger values of assets were written down 15,000.00 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 23,946.45 

(b) Provincial 307.00 

(c) Municipal 4,805.40 29,058.85 

All other expenses incurred: 

(a) Salaries $ 141,265.94 

(b) Directors' and Advisory Committee fees 1,700.00 

(c) Auditors' fees 3,000.00 

(d) Legal fees 173.45 

(e) Travelling expenses 4,312.12 

(f) Printing and stationery 5,543.53 

(g) Advertising 6,138.94 

(h) Postage, telegrams, telephones and express 5,853.49 

(i) Miscellaneous 32,451.41 200,438.88 

Net profit transferred to Profit and Loss Account 47,508.19 

Total $ 293,353.67 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 90,023.17 

Amount transferred from Revenue Account 47,508.19 

Premium on capital stock sold during year .16 

Total $ 137,531.52 

Dividends to shareholders declared during year $ 47,381.43 

Balance of account at December 31, 1952 90,150.09 

Total $ 137,531.52 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — United States Fidelity & Guaranty Brokers' 
Blanket Bond for $300,000.00 to December 31, 1954, on all employees. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) June 10, 1952 (b) June 30, 1952 (c) $2.00 

(a) September 11, 1952 (b) October 1, 1952 (c) $1.00 

(a) December 10, 1952 (b) January 2, 1953 (c) $1.00 

Date appointed for the Annual Meeting — January 30, 1953. 

Date of last Annual Meeting — February 20, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $205,466.94. 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpaid— $13,435.79. 



CONSTATING INSTRUMENTS 

Incorporated April 2, 1913, under chap. 179, Parliament of Canada, 3-4 Geo. V; extended 
March 24, 1915. Registered in Ontario, November 20, 1918. 

Amalgamation with the Imperial Trusts Company of Canada. Agreement for purchase 
approved by the Treasury Board of Canada, March 28, 1934, and also approved by Order-in- 
Council by the Lieutenant-Governor, Province of Ontario, on April 24, 1934, as of March 28, 1934. 

Amalgamation with the Security Loan and Savings Company, St. Catharines, Ont. Agree- 
ment of purchase approved by the Treasury Board of Canada, September 1, 1937, and also 
approved by Order-in-Council of the Lieutenant-Governor for the Province of Ontario, June 23. 
1937, as of March 24, 1937. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



97 



THE PREMIER TRUST COMPANY (Concl'd) 

SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as at 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Company Funds 

Mortgages: 

Ontario (a) 

Ontario (b) 

Agreements for Sale: 

Ontario (b) 

Totals 

Guaranteed Funds 

A 1 t nrn nroc " 

IVIOI Lgdgcb . 

Ontario (a) 

Ontario (b) 

Totals 

Totals (a) 

Totals (b) 

Grand Totals 


$ c. 

112,257.81 
262,426.58 

18,037.62 


$ c. 

15.75 
42.04 

22.74 


$ c. 

1,095.02 
535.54 

11.50 


$ c. 

711.03 
2,144.83 

93.44 


$ c. 

114,079.61 
265,148.99 

18,165.30 


392,722.01 


80.53 


1,642.06 


2,949.30 


397,393.90 


792,114.17 
2,061,310.96 


5.00 
469.75 


3,659.41 
3,347.82 


4,391.04 
24,200.57 


800,169.62 
2,089,329.10 


2,853,425.13 


474.75 


7,007.23 


28,591.61 


2,889,498.72 


904,371.98 
2,341,775.16 


20.75 
534.53 


4,754.43 
3,894.86 


5,102.07 
26,438.84 


914,249.23 
2,372,643.39 


3,246,147.14 


555.28 


8,649.29 


31,540.91 


3,286,892.62 



98 



THE REPORT OF THE 



PRUDENTIAL TRUST COMPANY LIMITED 

Head Office, Montreal, Que. 

Officers 

President. L. M. St. B. Collins: Vice-President and Managing Director. Frank S. Taylor; 
Secretary. Alfred Hall; Treasurer. George M. Rae. 

Directors 

Lloyd R. Champion, Frank S. Taylor. Frank M. Wells. L. M. St.B. Collins. A. T. 
Hurter. 

Auditors 

Riddell. Stead, Graham & Hutchison. 

Branch Offices 

Toronto. Ont.; Regina, Sask.; Calgary. Alta.; Edmonton. Alta.: Vancouver, B.C. 

Capital Stock 

Amount of Capital Stock authorized (100.000 shares of 810.00 each) S 1.000.000.00 

Amount subscribed and paid in cash 175.270.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Office premises $ 164,441.48 

Amount secured bv mortgages on real estate including first mortgages 4,157.44 

(See Schedule B) 

Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees S 110.000.00 

Interest accrued 1.100.00 S 111.100.00 



(b) Provinces of Canada, including 

guarantees S lo.056.25 

Interest accrued 154.70 15.210.95 126.310.95 



Book value of stocks 63.261.00 

Cash on hand 38o.00 

Cash on deposit with chartered banks in Canada 115,481.90 

All other assets 94,897.64 



Total Company Funds $ 568,935.41 



Estates, Trusts and Agency Funds 

Unrealized assets and investments $13,158,195.43 

Cash on hand and in banks 1.000.309.81 S14, 158.505.24 



Summary of Assets 

Company Funds S 568.935.41 

Estates. Trusts and Agency Funds 14.1o8,505.24 



Grand Total of Assets S14.727.440.65 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate S 33,866.2o 

Other expenses due and accrued 14,298.54 

All other liabilities 7.402.49 



Total 



S 55.567.28 



1953 



REGISTRAR OF LOAN CORPORATIONS 



99 



PRUDENTIAL TRUST COMPANY LIMITED (Cont'd) 



To the Shareholders: 

Paid-in Capital $ 175,270.00 

Reserve Fund 100,000.00 

Balance of Profit and Loss Account 238,098. 13 

Total $ 513,368.13 

Total Company Funds $ 568,935.41 



Estates, Trusts and Agency Funds , 
Estates, Trusts and Agencies $14,158,505.24 



Summary of Liabilities 

Company Funds $ 568,935.41 

Estates, Trusts and Agency Funds 14,158,505.24 

Grand Total of Liabilities $14,727,440.65 



REVENUE ACCOUNT 
Income 

Rents earned, net — on office premises $ 2,673.77 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 775.81 

(b) Bonds and debentures 3,712.50 

(c) Dividends on stocks 4,882.19 9,370.50 

Profit on sale of securities and real estate 11,188.00 

Agency fees and commissions earned 426,324.57 

All other revenue for the year 4,295.57 

Total $ 453,852.41 



Expenditure 

Loss on sale of securities and real estate owned $ 6,049.00 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 36,006.11 

(b) Provincial 3,847.74 

(c) Municipal 2,543.89 42,397.74 



All other expenses incurred: 

(a) Salaries $ 269,904.10 

(b) Directors' and Advisory Committee fees 741.05 

(c) Auditors' fees 8,550.00 

(d) Legal fees 200.50 

(e) Rents 33,518.29 

(f) Travelling expenses 15,894.36 

(g) Printing and stationery 6,802.85 

(h) Advertising 2,422.69 

(i) Postage, telegrams, telephones and express 4,019.71 

(j) Maintenance of office premises 6,138.45 

(k) Miscellaneous 28,963.72 377,155.72 

Net profit transferred to Profit and Loss Account 28,249.95 

Total $ 453,852.41 



100 



THE REPORT OF THE 



PRUDENTIAL TRUST COMPANY LIMITED (Cont'd) 

PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 218,611.68 

Amount transferred from Revenue Account 28,249.95 

Total $ 246,861.63 

Dividends to shareholders declared during year $ 8,763.50 

Balance of account at December 31, 1952 238,098.13 

Total $ 246,861.63 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — all officers bonded. The Yorkshire Insurance 
Company Limited Fidelity Guarantee Bond, Minimum $500.00, Maximum $5000.00, any one 
employee. In addition Lloyds, London, Excess Commercial Blanket Bond $100,000 for any one 
loss. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 

(a) March 12, 1952 (b) May 1, 1952 (c) 5% 

Date appointed for the Annual Meeting — March 11, 1953. 
Date of last Annual Meeting— March 12, 1952. 

CONSTATING INSTRUMENTS 

The Prudential Trust Company, Limited, was incorporated in 1909 by a Special Act of the 
Parliament of the Dominion of Canada, 8-9 Edward VII, chapter 124. 

Authorized in 1911 by Special Act of the Legislature, 1 Geo. V, chapter 139, to transact 
business in the Province of Ontario as specified in Section 1 (5) of the said Act, which enacts 
as follows: 

"(5) The Company shall be limited in respect of all business relating to property, 
rights or interests in the Province of Ontario, to the powers mentioned in this Act or granted 
from time to time to trust companies by any Public Act or Order of the Lieutenant-Governor 
in Council of the said Province and shall be subject to the general public law of the said 
Province relating to trust companies and trusts." 

In 1922, by chap. 71, George V, 12-13, the authorized capital was increased from $1,500,000 
to $2,000,000, representing 20,000 shares of par value $100. 

In 1930, by chap. 70, George V, 20-21, the capital structure was altered to represent 100,000 
shares of stock with a par value of $20 a share. 

In 1934, by Bill No. 11, 5th Session, 17th Parliament, 24 George V, the par value of the 
shares was reduced from $20 to $10. 

Under the provisions of 1 Geo. V, c. 139, as amended by 10 Geo. V, c. 158, the deposit as 
security to do business in Ontario may be fixed from time to time by the Lieutenant-Governor in 
Council. By Order-in-Council dated June 15, 1920, the Company's deposit of $200,000 was 
reduced to $50,000. By Order-in-Council dated July 4, 1933, the deposit required was further 
reduced to $30,000. 

The Company has a deposit in the Province of Ontario amounting to $30,000. 

SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Ouebec 


Company Funds 


m 


$ c. 
4,157.44 





1953 



REGISTRAR OF LOAN CORPORATIONS 



101 



THE ROYAL TRUST COMPANY 
Head Office, Montreal, Que. 

Officers 

Honorary President, Huntly R. Drummond; Chairman of the Board, Robert P. Jellett; 
President, Ross Clarkson; Vice-Presidents, James A. Eccles, B. C. Gardner, M.C., D.C.L., 
General Manager, Jack Pembroke, C.B.E.; Secretary, Walter E. Bickley. 

Directors 

William A. Arbuckle, C.A., Gordon R. Ball, LaMonte J. Belnap, George W. Bourke, 
The Hon. F. E. Bronson, P.C., George A. Campbell, Q.C., Ross Clarkson, Norman J. 
Dawes, Huntly R. Drummond, The Hon. Charles A. Dunning, P.C., James A. Eccles, 
Percy M. Fox, B. C. Gardner, M.C., D.C.V., G. Blair Gordon, Hugh G. Hilton, George 
W. Huggett, Richard G. Ivey, Q.C., Robert P. Jellett, W. A. Mather, The Hon. S. C. 
Mewburn, Q.C., H. C. F. Mockridge, Q.C., Herbert W. Molson, T. R. McLagan, Alick 
C. Newton, Gordon F. Perry, R. E. Powell, The Hon. Alphonse Raymond, LL.D., M.L.C., 
Henry E. Sellers, C.B.E., LL.D., Charles F. Sise, Walter M. Stewart, Austin C. Taylor, 
C.B.E., Jules R. Timmins, O.B.E., U.D., D.Sc. 

Auditors 

C. G. Wallace, C.A., and Gordon S. Small, C.A., Montreal. 

Branch Offices 

Branches — Calgary, Alta.; Edmonton, Alta.; Halifax, N.S.; Hamilton, Ont.; London, Eng.; 
London, Ont.; Ottawa, Ont.; Quebec, Que.; St. John, N.B.; St. Johns, Nfld.; Toronto, Ont.; 
Vancouver, B.C.; Victoria, B.C.; Winnipeg, Man.. 

Agencies— Charlotte town, P.E.I. ; Fort William-Port Arthur, Ont.; Lethbridge, Alta. 

Capital Stock 

Amount of Capital Stock authorized (100,000 shares of $20.00 each; 30,000 

shares of $100.00 each) $ 5,000,000.00 

Amount subscribed and paid in cash 2,000,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 

ASSETS 

Company Funds 

Interest in Royal Trust Building, Montreal $ 137,500.00 

Office premises 1,271,090.52 

Book value of real estate held for sale — freehold land (including buildings) 1.00 

Amount secured by mortgages on real estate including: 

First mortgages $ 2,671,372.64 

Second and subsequent mortgages 31,788.94 

Agreements for sale 2,463.77 

Interest due 748.01 

Interest accrued 9,519.57 2,715,892.93 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral : 

Principal $ 3,013,643.69 

Interest accrued 966.55 3,014,610.24 



Book value of bonds, debentures and debenture stocks: 

(a) Governments of Canada and United 
Kingdom, including guarantees. .. . $ 813,839.51 

Interest accrued 9,766.66 $ 823,606.17 

(b) Provinces of Canada, including 

guarantees $ 231,625.96 

Interest accrued 2,089.58 233,715.54 

(c) Canadian municipalities, school dis- 
tricts and rural telephone companies $ 121,215.00 

Interest accrued 1,465.00 122,680.00 

(d) All other bonds $ 3,764,397.00 

Interest accrued 40,622.95 3,805,019.95 4,985,021.66 



Book value of stocks 1,258,229.07 

Cash on hand 3,450.24 



102 



THE REPORT OF THE 



THE ROYAL TRUST COMPANY (Cont'd) 

Advances to estates, trusts, etc., under administration '. . 2,201,539,60 

All other assets 169,491.42 



Total Company Funds $ 15,756,826.68 



Guaranteed Funds 
Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 936,500.00 

Interest accrued ' 421.42 $ 936,921.42 



Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $15,256,486.54 

Interest accrued 113,014.67$ 15,369,501.21 



(b) Provinces of Canada, including 

guarantees $ 2,317,747.41 

Interest accrued 14,051.03 2,331,798.44 



(c) Canadian municipalities, school dis- 
tricts and rural telephone companies $ 1,324,235.99 
Interest accrued 8,077.90 1,332,313.89 



(d) All other bonds $ 7,535,658.36 

Interest accrued 67,579.90 7,603,238.26 26,636,851.80 



Cash on deposit with chartered banks in Canada 1,134,883.88 



Total Guaranteed Funds $ 28,708,657.10 



Estates, Trusts and Agency Funds 

Unrealized assets and investments $1,082,194,578.09 

Cash on hand and in banks 28,229,559.79 $1,110,424,137.88 



Summary of Assets 

Company Funds $ 15,756,826.68 

Guaranteed Funds 28,708,657.10 

Estates, Trusts and Agency Funds % 1,110,424,137.88 



Grand Total of Assets $1,154,889,621.66 



Liabilities 

Company Funds 

To the Public: 

Money borrowed from banks — with security $ 6,695,834.91 

Taxes other than taxes on real estate 204,679.99 

Reserved for extra dividend to shareholders declared and unpaid 90,000.00 

Other expenses due and accrued 27,744.20 



Total $ 7,018.259.10 



To the Shareholders: 

Paid-in Capital $ 2,000,000.00 

Reserve Fund 5,000,000.00 

Balance of Profit and Loss Account 1,738,567.58 



Total $ 8,738,567.58 



Total Company Funds $ 15,756,826.68 



Guaranteed Funds 

Specific Guaranteed Funds $ 66,000.00 

General Guaranteed Funds $ 28,617,013.26 

Interest due and accrued 25,643.84 28,642,657.10 



Total Guaranteed Funds $ 28,708,657.10 



1953 



REGISTRAR OF LOAN CORPORATIONS 



103 



THE ROYAL TRUST COMPANY (Cont'd) 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $1,108,222,598.28 

Due to Company Funds 2,201,539.60 $1,110,424,137.88 



Summary of Liabilities 

Company Funds $ 15,756,826.68 

Guaranteed Funds 28,708,657.10 

Estates, Trusts and Agency Funds 1,110,424,137.88 



Grand Total of Liabilities $1,154,889,621.66 



REVENUE ACCOUNT 



Income 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 154,584.62 

(b) Collateral loans 165,410.46 

(c) Bonds and debentures 200,925.64 

(d) Dividends on stocks 124,649.78 

(e) Bank deposits 53,319.76 $ 698,890.26 



Profit in guaranteed funds 396,881.20 

Agency fees and commissions earned 4,355,223.04 



Total $ 5,450.994.50 



Expenditure 

License fees and taxes other than taxes on real estates: 

(a) Dominion and United Kingdom $ 282,998.40 

(b) Provincial 83,714.95 

(c) Municipal 31,701.33 $ 398,414.68 



All other expenses incurred : 

(a) Salaries $ 3,317,654.02 

(b) Directors' and Advisory Committee fees 68,865.37 

(c) Auditors' fees 64,573.63 

(d) Legal fees 7,521.12 

(e) Rents 208,768.01 

(f) Travelling expenses 42,922.40 

(g) Printing and stationery 78,707.84 

(h) Advertising 84,604.66 

(i) Postage, telegrams, telephones and express 80,384.69 

(j) Maintenance of office premises 83,888.70 

(k) Miscellaneous 400,502.09 4,438,392.53 



Net profit transferred to Profit and Loss Account 614,187.29 



Total $ 5,450,994.50 



PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 1,554,380.29 

Amount transferred from Revenue Account 614,187.29 



Total $ 2,168,567.58 



Dividends to shareholders declared during year $ 340,000.00 

Reserve for extra dividend of 4}4% on Capital Stock 90,000.00 

Balance of account at December 31, 1952 1,738,567.58 



Total $ 2,168,567.58 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — all employees, Primary Commercial Blanket 
Bond No. 875816, March 20, 1955, Guarantee Company of North America, coverage 
$100,000. 



104 



THE REPORT OF THE 



THE ROYAL TRUST COMPANY (Concl'd) 

Dividends and bonuses declared during year— (a) dates declared, (b) dates payable, (c) rates: 



(a) January 8, 1952 

(a) April 8, 1952 

(a) July 8, 1952 

(a) October 14, 1952 



(b) February 1, 1952 (c) 85c. and 90c. 

(b) May 1, 1952 (c) 85c. 

(b) August 1, 1952 (c) 85c. 

(b) November 3, 1952 (c) 85c. 

Date appointed for the Annual Meeting — second Tuesday in February. 
Date of last Annual Meeting— February 12, 1952. 

In the case of any Company whose Stocks, Bonds or Debentures are held by the Corporation 

either directly or indirectly, if such Company is otherwise indebted to the Corporation upon 

loans either secured by mortgages or other security, or unsecured: 

The aggregate amount of such loans is $663,239.47. 
The amount of interest on such loans taken credit for in the Revenue Account for the year — 

$28,665.79. 



CONSTATING INSTRUMENTS 

The Royal Trust Company was incorporated in 1892, by Special Act of the Province of 
Quebec, 55-56 Vict., chap. 79, which was amended by 55-56 Vict. (1892), chap. 80 (Q), and by 
59 Vict. (1895), chap. 67 (Q), and by 63 Vict. (1900), chap. 76 (Q), 6 Edw. VII (1906), chap. 
73 (Q), 17 Geo. V (1927), chap. 96 (Q), 19 Geo. V (1929), chap. 104 (Q). 1-2 Elizabeth 2, 1952, 
Chap. 145 (Q). 

Authorized by Special Act of Legislature of Ontario, 2 Edw. VII (1902), chap. 103, to 
transact business therein as specified in Section 1 (5) of the said Act, which enacts as follows: 

"(5) The Company shall be limited in respect of all business relating to property, 
right or interests in the Province of Ontario, to the powers mentioned in the schedule to 
The Ontario Trust Companies' Act, and shall be subject to the general provisions of the 
said Act and of the general public law of the said Province relating to trust companies 
and trusts." 

The Company has a deposit in the Province of Ontario amounting to $200,000.00. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 

(a) Farm 

(b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Amount of 
Interest 

Due 
and Not 
Charged 


Company Funds 
Alberta (a) 


$ c. 
12,200.00 
372,863.38 
497,490.57 
317,787.09 
1,034,865.83 
397,203 39 


$ c. 


$ c. 


$ c. 


$ c. 
12,200.00 
373,132.72 
498,249.30 
321,220.65 
1,038,824.36 
402,243.49 
24,152.80 
15,739.61 
48,000.00 
7,011.71 


$ c. 


Alberta (b) 






269.34 
758.73 
180.20 
3,846.84 
4,403.78 




British Columbia (b) 
Manitoba (b) 






211.03 
472.40 


3,253.36 




Ontario (b) 


111.69 
636.32 


Quebec (b) 






Saskatchewan ... (a) 
Saskatchewan ... (6) 
Newfoundland . . . (b) 
Nova Scotia (b) 


23,482.75 
15,694.26 
48,000.00 
6,996.38 


670.05 


7,376.93 




45.35 












15.33 




Totals (a) 








35,682.75 
2,690,900.90 


670.05 
3,253.36 






36,352.80 
2,704,421.84 


7,376.93 
683.43 


Totals (b) 
Grand Totals. 


748.01 


9,519.57 


2,726,583.65 


3,923.41 


748.01 


9,519.57 


2,740,774.64 


8,060.36 



1953 



REGISTRAR OF LOAN CORPORATIONS 



105 



THE STERLING TRUST CORPORATION 

Head Office, Toronto, Ont. 

Officers 

President, Charles Bauckham; Vice-Presidents, R. T. Birks, Q.C, Robert Bigelow, Q.C, 
General-Manager, James R. Lovatt; Secretary, E. R. Meredith; Treasurer, J. M. Smillie. 

Directors 

Charles Bauckham, James R. Lovatt, R. T. Birks, Q.C., Robert Bigelow, Q.C, E. R, 
Meredith, J. M. Smillie, John Hallam, Lorne Johnson, S. J. Boyd, M.D., H. R. Frost, Q.C. 
W. A. Dilworth, H. T. Burgess, J. R. Boys, Q.C, Frank V. C. Hewett. 

Auditors 

Peat, Marwick, Mitchell & Company. 

Branch Offices 
Branches — Barrie, Ont.; Regina, Sask. 



Capital Stock 

Amount of Capital Stock authorized (100,000 shares of $20.00 each) $ 2,000,000.00 

Amount subscribed 940,200.00 

Amount paid in cash on 940,200.00 stock 50% called 901,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises $ 90,998.85 

Amount secured by mortgages on real estate including: 

First mortgages $ 499,839.76 

Agreements for sale 51,541.74 

Interest due 52.60 

Interest accrued 3,481.40 554,915.50 

(See Schedule B) - — 

Amount of loans secured by stocks, bonds and other collateral: 

Principal $ 27,000.54 

Interest due 48.52 

Interest accrued 86.70 27,135.76 

Book value of bonds, debentures and debenture stocks: 

(a) Canadian municipalities $ 58,703.15 

Interest accrued 147.95 $ 58,851.10 

(b) All other bonds $ 222,597.98 

Interest accrued 1,600.46 $ 224,198.44 283,049.54 

Book value of stocks $ 313,450.44 

Accrued dividends thereon 1,916.30 315,366.74 

Cash on hand " 6,643.36 

Cash on deposit with chartered banks in Canada 115,299.06 

Accrued fees and charges for administering estates 2,689.75 

All other assets 9,713.21 

Total Company Funds $ 1,405,811.77 

Guaranteed Funds 
Amount secured by mortgages on real estate including : 

First mortgages $ 4,158,387.28 

Interest due 910.04 

Interest accrued 30,035.09 $ 4,189,332.41 

(See Schedule B) 



106 



THE REPORT OF THE 



THE STERLING TRUSTS CORPORATION (Cont'd) 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 613,330.02 

Interest accrued . 3,296.31 $ 616,626.33 

(b) Provinces of Canada, including 

guarantees $ 255,456.25 

Interest accrued 1,893.88 257,350.13 

(c) Canadian municipalities, school districts $ 111,640.27 

Interest accrued 769.06 112,409.33 

(d) All other bonds $ 409,793.50 

Interest accrued 3,693.14 413,486.64 1,399,872.43 

Book value of stocks $ 750,361.97 

Accrued dividends thereon 5,002.76 755,364.73 

Cash on hand 31,276.57 

Cash on deposit with chartered banks in Canada 280,599.63 

Total Guaranteed Funds : $ 6,656,445.77 

Estates, Trusts and Agency Funds 

Unrealized assets and investments $ 7,713,137.68 

Cash on hand and in banks 474,732.01 $ 8,187,869.69 

Summary of Assets 

Company Funds $ 1,405,811.77 

Guaranteed Funds 6,656,445.77 

Estates, Trusts and Agency Funds 8,187,869.69 

Grand Total of Assets $16,250,127.23 



Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 33,500.00 

Dividends to shareholders declared and unpaid 22,519.57 

Investment reserves 50,000.00 

All other liabilities (accounts payable) 7,393.55 

Total $ 113,413.12 

To the Shareholders: 

Paid-in Capital $ 901,000.00 

Reserve Fund 350,000.00 

Balance of Profit and Loss Account 41,398.65 

Total $ 1,292,398.65 

Total Company Funds $ 1,405,811.77 

Guaranteed Funds 

Trust deposits $ 2,011,047.81 

General Guaranteed Funds $ 4,601,392.71 

Interest accrued 44,005.25 4,645,397.96 

Total Guaranteed Funds $ 6,656,445.77 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies S 8,187,869.69 



1953 REGISTRAR OF LOAN CORPORATIONS 107 



THE STERLING TRUSTS CORPORATION (Cont'd) 

Summary of Liabilities 

Company Funds $ 1,405,811-77 

Guaranteed Funds 6,656,445.77 

Estates, Trusts and Agency Funds 8,187,869.69 

Grand Total of Liabilities $16,250,127.23 



REVENUE ACCOUNT 
Income 

Rents earned, net — on office premises $ 12,374.03 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 29,037.51 

(b) Collateral loans 1,056.15 

(c) Bonds and debentures 12,233.54 

(d) Dividends on stocks 20,677.30 63,004.50 

Profit on sale of securities 5,205.27 

Profit in guaranteed funds 116,404.00 

Agency fees and commissions earned 116,675.45 

All other revenue for the year 1,492.03 



Total $ 315,155.28 



Expenditure 

Loss on sale of securities $ 109.75 

Amount by which ledger values of assets were written down 3,038.32 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 51,839.09 

(b) Provincial 745.00 

(c) Municipal 1,394.53 53,978.62 

All other expenses incurred: 

(a) Salaries $ 104,246.91 

(b) Directors' and Advisory Committee fees 4,735.00 

(c) Auditors' fees 2,750.00 

(d) Rents 12,417.24 

(e) Travelling expenses 3,384.21 

(f) Printing and stationery 4,856.05 

(g) Advertising 14,280.55 

(h) Postage, telegrams, telephones and express 3,419.67 

(i) Contribution to Staff Retirement Fund 3,062.61 

(j) Miscellaneous 7,528.95 160,681.19 

Net profit transferred to Profit and Loss Account 97,347.40 



Total $ 315,155.28 



PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 57,086.32 

Amount transferred from Revenue Account 97,347.40 

Total $ 154,433.72 

Dividends to shareholders declared during year $ 63,035.07 

Amount transferred to Reserve Fund 50,000.00 

Balance of account at December 31, 1952 41,398.65 

Total $ 154,433.72 



108 



THE REPORT OF THE 



THE STERLING TRUSTS CORPORATION (Concl'd) 

MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — Fidelity Insurance Co. of Canada Brokers' 
Blanket Bond for $50,000.00. No. 178451 as at December 31, 1952, covering theft, burglary, 
hold-up, embezzlement by employees or other persons. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 



(a) 
(a) 
(a) 
(a) 
(a) 



February 11, 1952 
April 21, 1952 
June 23, 1952 
November 3, 1952 
November 3, 1952 



(b) April 1, 1952 (c) iy 2 % 

(b) July 2, 1952 (c) V/ 2 % 

(b) October 1, 1952 (c) iy 2 % 

(b) January 2, 1953 (c) \y 2 % 

(b) January 2, 1953 (c) 1% bonus 

Date appointed for the Annual Meeting — second Monday in February. 
Date of last Annual Meeting — February 11, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $443,259.88. 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpresented— $5,993.50. 



CONSTATING INSTRUMENTS 

The Sterling Trusts Corporation was incorporated May 19, 1911, by Special Act of Parlia- 
ment of Canada, 1-2 Geo. V, chap. 144. 

The original head office of the Company was at Regina, in the Province of Saskatchewan. 

By Order-in-Council (D), head office was changed to the City of Toronto, in the Province 
of Ontario. 

Registered on the Trust Company's Register, December 1, 1913. 

By an Act of the Parliament of Canada, 17 Geo. V, chap. 94 April 14, 1927, the authorized 
capital stock of the Corporation was increased from $1,000,000 to $2,000,000. 



SCHEDULE B 

Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Company Funds 

Saskatchewan (a) 

Ontario (b) 


$ c. 
18,332.83 
533,048.67 


$ c. 


$ c. 
52.60 


$ ,c. 
32.71 
3,448.69 


$ c. 
18,418.14 
536,497.36 


Total Company Funds. . . 

Guaranteed Funds 
Ontario (b) 

Totals (a) 

Totals (b) 

Grand Totals 






551,381.50 




52.60 


3,481.40 


554,915.50 


4,158,274.71 


112.57 


910.04 


30,035.09 


4,189,332.41 


18,332.83 
4,691,323.38 


112.57 


52.60 
910.04 


32.71 
33,483.78 


18,418.14 
4,725,829.77 


4,709,656.21 


112.57 


962.64 


33,516.49 


4,744,247.91 



1953 



REGISTRAR OF LOAN CORPORATIONS 



109 



THE TORONTO GENERAL TRUSTS CORPORATION 

Head Office, Toronto, Ont. 

Officers 

President, C. C. Calvin, Q.C.; Vice-Presidents, Isaac Pitblado, Q.C., LL.D., A. L. Bishop; 
General Manager, Gordon C. Lindsay, C.B.E.; Assistant General Managers, A. R. Courtice, 
W. H. Mow at; Assistant General Manager and Treasurer, Donald K. Tow, O.B.E., E.D.; Sec- 
retary, H. Basil Morphy. 

Directors 

C. C. Calvin, Q.C., Isaac Pitblado, Q.C., LL.D., W. G. Watson, Hon. A. C. Hardy, 
P.C., Q.C., Arthur L. Bishop, Walter C. Laidlaw, C. H. MacLaren, C.M.G., D.S.O., Her- 
bert H. Horsfall, Charles S. Band, Hon. Eric W. Hamber, C.M.G., LL.D., C. Gordon 
Cockshutt, J. E. Hahn, D.S.O., O.B.E., M.C., William C. Harris, Edgar G. Burton, C.B.E., 
Roy H. Davis, F. G. Winspear, C.A., J. K. MacDonald, Donald A. McIntosh, Q.C., Hugh 
E. O'Donnell, Q.C., A. B. Matthews, C.B.E., D.S.O., E.D., Rhys M. Sale, E. Harold 
Tanner, O.B.E., C. Sydney Frost, M.C., G. Gordon Gale, Norman S. Robertson, Q.C., 
R. Leslie Beattie. 

Auditors 

H. D. Lockhart Gordon, F.C.A., J. R. M. Wilson, F.C.A., of Clarkson Gordon & Co., 
Chartered Accountants. 

Branch Offices 

Branches — Toronto, Ont., (2); Montreal, Que.; Ottawa, Ont.; Windsor, Ont.; Winnipeg, 
Man.; Regina, Sask.; Saskatoon, Sask.; Calgary, Alta.; Edmonton, Alta.; Vancouver, B.C.; 
St. Catharines, Ont. 

Capital Stock 

Amount of Capital Stock authorized (250,000 shares of $20.00 each) $ 5,000,000.00 

Amount subscribed and paid in cash 3,000,000.00 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises $ 1,757,000.00 

Book value of real estate held for sale — freehold land (including buildings) 14,750.68 

Amount secured by mortgages on real estate including: 

First mortgages $ 1,027,447.14 

Agreements for sale 154,038.62 1,181,485.76 

(See Schedule B) - 

Amount of loans secured by stocks, bonds and other collateral: 

Principal $ 562,660.68 

Interest accrued 890.19 563,550.87 



Book value of bonds, debentures and debenture stocks: 
(a) Government of Canada, including 

guarantees $ 2,405,755.02 

Interest accrued 19,582.33 $ 2,425,337.35 



(b) Provinces of Canada, including 

guarantees 

Interest accrued 956.82 95,793.30 



(c) Canadian municipalities, school districts 
and rural telephone companies 

Interest accrued 720.72 52,414.77 



$ 


94,836.48 




956.82 


$ 


51,694.05 




720.72 


$ 


70,986.68 




1,013.83 



(d) All other bonds 

Interest accrued i;013.83 72,000.51 2,645,545.93 



Book value of stocks $ 132,188.03 

Accrued dividends thereon 1,137.99 133,326.02 



Cash on hand 1,132.80 

Cash on deposit with chartered banks in Canada 352,860.74 

Advances to estates, trusts, etc., under administration 94,164.19 



Total Company Funds $ 6,743,816.99 



110 



THE REPORT OF THE 



THE TORONTO GENERAL TRUSTS CORPORATION (Cont'd) 

Guaranteed Funds 

Amount secured by mortgages on real estate including first mortgages $ 7,586,438.51 

(See Schedule B) 

Amount of loans, secured by stocks, bonds and other collateral: 

Principal $ 228,872.62 

Interest due 1,053.51 

Interest accrued 1,598.43 231,524.56 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $12,207,785.73 

Interest accrued 98,360.13 $12,306,145.86 

(b) Provinces of Canada, including 

guarantees $ 4,815,755.03 

Interest accrued 34,815.36 4,850,570.39 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 4,415,190.08 

Interest accrued 46,660.25 4,461,850.33 

(d) All other bonds $ 510,852.20 

Interest accrued 4,222.64 515,074.84 22,133,641.42 

Book value of stocks $ 144,252.00 

Accrued dividends thereon 1,345.66 145,597.66 

Cash on hand 130,739.2 1 

Cash on deposit with chartered banks in Canada 1,691,201.88 

Total Guaranteed Funds $31,919,143.24 

Estates, Trusts and Agency Funds 

Unrealized assets $196,776,129.36 

Investments 117,313.998.80 

Cash on hand and in banks 9,417,426.86 $323,507,555.02 

Summary of Assets 

Company Funds $ 6,743,816.99 

Guaranteed Funds 31,919,143.24 

Estates, Trusts and Agency Funds 323,507,555.02 

Grand Total of Assets $362,170,515.25 



Liabilities 

Company Funds 



To the Public: 

Taxes other than taxes on real estate $ 178,949.34 

Dividends to shareholders declared and unpaid 52.500.00 

Investment reserves 838,693.63 



Total S 1,070,142.97 



To the Shareholders: 

Paid-in Capital $ 3,000,000.00 

Reserve Fund 2,500.000.00 

Balance of Profit and Loss Account 173,674.02 



Total $ 5,673,674.02 



Total Company Funds $ 6.743,816.99 



1953 



REGISTRAR OF LOAN CORPORATIONS 



111 



THE TORONTO GENERAL TRUSTS CORPORATION (Cont'd) 

Guaranteed Funds 

Trust deposits $21 ,262,795.55 

Specific Guaranteed Funds 35,307.63 

General Guaranteed Funds $10,196,607.91 

Interest due and accrued 84,432.15 10,281,040.06 

Investment Reserve 340,000.00 

Total Guaranteed Funds $31,919,143.24 

Estates, Trusts and Agency Funds 

Estates, Trusts and Agencies $323,413,390.83 

Due to Company Funds 94,164.19 $323,507,555.02 

Summary of Liabilities 

Company Funds $ 6,743,816.99 

Guaranteed Funds 31,919,143.24 

Estates, Trusts and Agency Funds 323,507,555.0^ 

Grand Total of Liabilities $362,170,515.25 



REVENUE ACCOUNT 
Income 

Rents earned, net — on office premises $ 100,143.57 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 93,316.61 

(b) Collateral loans 11,669.22 

(c) Bonds and debentures 75,475.25 

(d) Dividends on stocks 7,007.53 

(e) Other interest earned 7,801.31 195,269.92 

Profit on sale of securities and real estate 18,405.26 

Profit in guaranteed funds 413,536.39 

Agency fees and commissions earned 1,915,539.44 

All other revenue for the year 25,332.34 

Total $ 2,668,226.92 



Expenditure 

Transfer to Staff Retirement Annuity Plan $ 30,877.74 

Loss on sale of securities and real estate owned 250.00 

Amount by which ledger values of assets were written down 59,034.20 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 283,568.29 

(b) Provincial 24,050.04 

(c) Municipal 40,381.67 348,000.00 

Commissions on loans and on sale of real estate 3,913.00 

Amount transferred to Investment Reserves 5,000.00 

All other expenses incurred: 

(a) Salaries $ 1,247,439.51 

(b) Directors' and Advisory Committee fees 37,076.33 

(c) Auditors' fees 23,500.00 

(d) Legal fees 5,060.18 

(e) Rents 177,067.50 

(f) Travelling expenses 32,800.68 

(g) Printing and stationery 43,414.36 

(h) Advertising 47,797.74 

(i) Postage, telegrams, telephones and express 39,564.12 

(j) Maintenance of office premises 10,147.06 

(k) Miscellaneous 257,180.53 1,921,048.01 

Net profit transferred to Profit and Loss Account 300,103.97 

Total $ 2,668,226.92 



112 



THE REPORT OF THE 



THE TORONTO GENERAL TRUSTS CORPORATION (Cont'd) 

PROFIT AND LOSS ACCOUNT 



Balance brought forward from previous year $ 144,007.33 

Amount transferred from Revenue Account 300,103.97 

Total $ 444,111.30 

Dividends to shareholders declared during year $ 210,000.00 

Net cost of acquiring Ottawa Valley Trust Co. including expenses 60,437.28 

Balance of account at December 31, 1952 173,674.02 

Total $ 444,111.30 



MISCELLANEOUS 



Fidelity Bonds on officers of the Corporation — Blanket Bond covering all staff. 

Dominion of Canada General Insurance Co. No. 068443, expires September 2, 1954 — 
$100,000.00. 

Indemnity Insurance Co. of North America C8-717, expires August 22, 1955— $200,000.00. 
United States Fidelity & Guarantee Co. 02-425-47, expires August 22, 1955— $200,000.00. 
Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 



(a) February 26, 1952 

(a) May 27, 1952 

(a) September 2, 1952 

(a) November 25, 1952 



(b) 
(b) 
(b) 
(b) 



April 1, 1952 
July 1, 1952 
October 1, 1952 
January 1, 1953 



(c) 
(c) 
(c) 
(c) 



35 cents a share 
35 cents a share 
35 cents a share 
35 cents a share 



Date appointed for the Annual Meeting — February 4, 1953. 
Date of last Annual Meeting — February 6, 1952. 
Special General Meetings held during year: 
Dates— June 5, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $352,793.20. 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpaid awaiting instructions — $244,180.84. 



CONSTATING INSTRUMENTS 

1882 — An Act to incorporate The Toronto General Trusts Company. Approval of Company 
by Lieutenant-Governor of Ontario in Council. 

1885 — Letters Patent extending the powers of the Company. 

1887 — Letters Patent increasing the stock of the Company to One Million Dollars. 

1888 — Letters Patent empowering the Directors to fix the quorum of the Board by by-law. 

1888 — Letters Patent incorporating The Trusts Corporation of Ontario. 

1889 — Letters Patent authorizing the Company to hold real estate and to act as a safe 
deposit company. 

1896 — Letters Patent incorporating the Ottawa Trusts and Deposit Company, Limited. 

1897 — Letters Patent authorizing the Company to act in the winding up of estates, part- 
nerships, companies and corporations. 

1899 — An Act to amalgamate The Toronto General Trusts Company and The Trusts 
Corporation of Ontario. 

1899 — An Act to incorporate The Winnipeg General Trusts Company. 

1902 — An Act to permit The Toronto General Trusts Corporation to carry on business in 
Manitoba, and to confirm a deed of agreement with The Winnipeg General Trusts Company. 

1902 — Approval of Corporation by Lieutenant-Governor of Manitoba in Council. 

1903 — An Ordinance to permit the Corporation to carry on business in the North-west 
Territories. 

1903— An Indenture of Purchase of The Ottawa Trust and Deposit Company, Limited. A 
Supplementary Indenture. Approval of above Indentures by Lieutenant-Governor of Ontario 
in Council. Certificate of Attorney-General of Ontario under Loan Corporations Act. 

1904 — Certificate of Corporations Register. 

1904 — An Act to permit The Toronto General Trusts Corporation to carry on business in 
the Province of Quebec. 

1905 — License to carry on business in British Columbia. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



113 



THE TORONTO GENERAL TRUSTS CORPORATION (Concl'd) 

1909 — Letters Patent amending Act of 1899 with reference to dividend. 
1912— Order-in-Council increasing capital from $1,000,000.00 to $2,000,000.00. 
1928— Order-in-Council increasing capital from $2,000,000.00 to $3,000,000.00. 
1931— Order-in-Council dated February 17, 1931, increasing capital from $3,000,000.00 to 
$5,000,000.00. 

1950 — Order-in-Council approving a by-law to sub-divide the shares of the capital stock of 
the Company of a par value of $100.00 each, into o shares of the par value of $20.00 each. 

1952 — An indenture Agreement to purchase The Ottawa Valley Trust Company assented 
to by Order-in-Council dated June 19, 1952. 

SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Totals 


Company Funds 
Ontario (a) 


$ c. 

O 1 AO 1 QQ 

71,003.01 

QQO OA 1 O.C. 

2,678.80 


$ c. 


$ c. 

91 Q91 QQ 

73,125.64 

Af\Q 1 A A AH 

2,753.80 


Manitoba (a) 

Saskatchewan (a) 

Alberta (a) 

Totals (a) 

Ontario (b) 

Quebec (b) 

Saskatchewan (b) 

Totals (b) 

Grand Totals 

Company Funds ... 


2,122.63 

9^ QG7 1 1 

75.00 


476,951.16 


28,094.74 


505,045.90 


642,364.57 
75,143.64 
5,917.07 


609.26 
55.68 
12.14 


642,973.83 
75,199.32 
5,929.21 


723,425.28 


677.08 


724,102.36 


1,200,376.44 


28,771.82 


1,229,148.26 


Guaranteed Funds 

Ontario (a) 

Manitoba (a) 

Saskatchewan (a) 

Alberta (a) 

Totals (a) 

Ontario (b) 

Quebec (b) 

Manitoba (b) 

Saskatchewan (b) 

Alberta (b) 

British Columbia (b) 

Totals (b) 

Grand Totals 

Guaranteed Funds. 


35,243.46 
123,199.97 
629,998.72 

78,060.32 


42.90 
1,438.62 
34,650.30 
2,619.08 


35,286.36 
124,638.59 
664,649.02 

80,679.40 


866,502.47 


38,750.90 


905,253.37 


5,047,498.97 
165,614.71 
188,364.29 
398,245.85 
344,515.03 
595,893.93 


2,619.43 
203.46 
159.44 

1,211.03 
37.53 

—54.02 


5,050,118.40 
165,818.17 
188,523.73 
399,456.88 
344,552.56 
595,839.91 


6,740,132.78 


4,176.87 


6,744,309.65 


7,606,635.25 


42,927.77 


7,649,563.02 



114 



THE REPORT OF THE 



VICTORIA AND GREY TRUST COMPANY 

Head Office, Lindsay, Ont. 

Officers 

President, T. H. Stinson, Q.C.; Vice-Presidents, E. N. Cooper, J. G. Fraser. H. J. 
McLaughlin, Q.C., T. A. Mackay, F. G. Perrin; Manager and Secretary, G. A. Weeks; 
Treasurer, K. D. Johnston; Assistant General Manager, R. G. Thomas, Q.C.; Chief Accountant, 
H. Glen Gordon. 

Directors 

G. D. Fleming, T. H. Stinson, Q.C., E. N. Cooper, J. G. Fraser, H. J. McLaughlin, Q.C., 
T. A. Mackay, F. G. Perrin, W. L. Brown, Dr. A. L. Danard, S. A. Flavelle. C. Grant, Q.C., 
Dr. R. Howey, W. B. Lemon, G. S. Matthews, G. D. McLauchlan, W. W. McLaughlin, 
Q.C., W. H. Morton, G. H. Shipman, L. A. Walden, C. E. Weeks, Q.C., P. H. Wills. 

Auditors 

Douglas J. Sales, F.C.A., Charles Gaviller, C.A. 

Branch Offices 

Branches: — Belleville, Ont.; Cannington, Ont.; Lindsay, Ont.; Peterborough, Ont.; Owen 
Sound, Ont. 

Capital Stock 

Amount of Capital Stock authorized (250,000 shares of $10.00 each) S 2,500,000.00 

Amount subscribed and paid in cash 2,000,000.00 

BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 

Company Funds 

Office premises S 201,140.33 

Amount secured by mortgages on real estate including: 

First mortgages $ 107,661.38 

Agreements for sale 34,444.15 

Interest due 1 , 145.05 

Interest accrued 1 ,848.55 145,099. 13 

(See Schedule B) 

Amount of loans secured by stocks, bonds and other collateral: 

Principal S 163.534.71 

Interest accrued 1,796.05 165.330.76 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 202,773.15 

Interest accrued 750.00 $ 203,523.15 

(b) Provinces of Canada, including 

guarantees $ 46,068.75 

Interest accrued 668.00 46,736.75 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 125.128.93 

Interest accrued 3,184.16 128,313.09 

(d) All other bonds $ 14.841.52 

Interest accrued 5,183.35 20,024.87 398,597.86 

Book value of stocks 2,356,877.36 

Cash on hand 132,343.79 

Cash on deposit with chartered banks in Canada 44.484.00 

Advances to estates, trusts, etc., under administration 32,959.51 

All other assets 25.310.33 

Total Company Funds S 3,502,143.07 

Guaranteed Funds 
Amount secured by mortgages on real estate including: 

First mortgages $15,817,979.09 

Interest due 43,610.84 

Interest accrued 171.543.01 $16,033,132.94 

(See Schedule B) 



1953 



REGISTRAR OF LOAN CORPORATIONS 



115 



VICTORIA AND GREY TRUST COMPANY (Cont'd) 

Amount of loans, secured by stocks, bonds and other collateral : 

Principal $ 133,748.32 

Interest accrued 2,009.04 135,757.36 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 5,287,116.48 

Interest accrued 47,650.80 $ 5,334,767.28 

(b) Provinces of Canada, including 

guarantees $ 2,636,303.74 

Interest accrued 23,467.45 2,659,771.19 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 2,538,028.49 

Interest accrued 37,897.49 2,575,925.98 

(d) All other bonds $ 1,577,207.00 

Interest accrued 16,371.10 1,593,578.10 12,164,042.55 

Book value of stocks 302,946.25 

Cash on hand 91,043.90 

Cash on deposit with chartered banks in Canada 1,274.614.45 

All other assets 787.70 

Total Guaranteed Funds $30,002,325.15 

Estates, Trusts and Agency Funds 

Unrealized assets $ 4,321,186.52 

Investments 2,699,361.23 

Cash on hand and in banks 624,535.44 $ 7,645,083.19 

Summary of Assets 

Company Funds $ 3,502,143.07 

Guaranteed Funds 30,002,325.15 

Estates, Trusts and Agency Funds 7,645,083.19 

Grand Total of Assets $41,149,551.41 

Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 104,993.44 

All other liabilities 23,758.59 

Total $ 128,752.03 

To the Shareholders: 

Paid-in Capital $ 2,000,000.00 

Reserve Fund 1 ,300,000.00 

Balance of Profit and Loss Account 73,391.04 

Total $ 3,373,391.04 

Total Company Funds $ 3,502,143.07 

Guaranteed Funds 

Trust deposits $11,319,600.35 

General Guaranteed Funds $18,374,034.01 

Interest due and accrued 308,690.79 18,682,724.80 

Total Guaranteed Funds $30,002,325.15 

Estates, Trusts and Agency Funds 

Estates $ 4,641,482.29 

Trusts and Agencies 2,970,641.39 

Due to Company Funds 32,959.51 7,645,083.19 

Summary of Liabilities 

Company Funds $ 3,502,143.07 

Guaranteed Funds 30,002,325.15 



116 



THE REPORT OF THE 



VICTORIA AND GREY TRUST COMPANY (Cont'd) 

Estates, Trusts and Agency Funds 



7,645,083.19 



Grand Total of Liabilities . $41,149,551.41 



REVENUE ACCOUNT 
Income 

Interest and dividends earned on: 

(a) Mortgages and agreements for sale $ 17,995.29 

(b) Collateral loans 7,366.77 

(c) Bonds and debentures 33,579.62 

(d) Dividends on stocks 126,945.31 

(e) Other interest earned 270.66 $ 186,157.65 

Profit on sale of securities and real estate 105,562.01 

Profit in guaranteed funds 584,804.20 

Agency fees and commissions earned 65,154.73 

All other revenue for the year 24,699.43 

Reduction real estate reserve 684.94 

Total $ 967,062.96 

Expenditure 

Interest incurred $ 1,912.13 

Loss on mortgages 900.32 

License fees and taxes other than taxes on real estate: 

(a) Dominion and Provincial S 165,000.00 

(b) Municipal 6,524.15 171,524.15 

Commissions on loans and on sale of real estate 11,730.03 

Amount transferred to Investment Reserves 150,000.00 

All other expenses incurred: 

(a) Salaries S 205,696.58 

(b) Directors' and Advisory Committee fees 26,700.00 

(c) Auditors' fees 8,862.46 

(d) Legal fees 144.97 

(e) Rents 2,100.00 

(f) Travelling expenses 5,106.77 

(g) Printing and stationery 19,069.64 

(h) Advertising 11.826.10 

(i) Postage, telegrams, telephones and express 12.852.85 

(j) Commission on sale of G.I. Certificates 11,102.95 

(k) Maintenance of office premises 22.266.63 

(1) Miscellaneous 77,895.81 403,624.76 

Net profit transferred to Profit and Loss Account 227,371.57 

Total $ 967,062.96 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year $ 56,019.47 

Amount transferred from Revenue Account 227,371.57 

Total $ 283,391.04 

Dividends to shareholders declared during year $ 160,000.00 

Amount transferred to Reserve Fund 50,000.00 

Balance of account at December 31, 1952 73,391.04 

Total $ 283,391.04 



MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — British America Assurance Company, Toronto, 
No. 580391, January 1955, Brokers' Blanket Bond— $300,000. 

Dividends and bonuses declared during year— (a) dates declared, (b) dates payable, (c) rates: 

(a) January 16, 1952 (b) March 15. 1952 (c) 2% 

(a) May 14, 1952 (b) June 16, 1952 (c) 2% 

(a) June 18, 1952 (b) September 15, 1952 (c) 2% 

(a) September 24, 1952 (b) December 15, 1952 (c) 2% 



1953 



REGISTRAR OF LOAN CORPORATIONS 



117 



VICTORIA AND GREY TRUST COMPANY (Concl'd) 

Date appointed for the Annual Meeting- — February 18, 1953. 
Date of last Annual Meeting — February 20, 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on Deposit in Guaranteed Funds 

Department— $659,441.07. 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpaid— $252,074.10. 

CONSTATING INSTRUMENTS 

The Victoria Trust and Savings Company. 

Incorporated on September 4, 1897, under the Building Societies Act, 1887, c. 169 by declara- 
tion filed with the Clerk of the Peace for the County of Victoria under the name of The Victoria 
Loan and Savings Company. 

By Letters Patent of Ontario, dated November 11, 1898 the Company was relieved from 
restrictions which confined its operations to Victoria County. 

By Special Act (Ontario), dated October 1, 1923, 13-14 Geo. V, c. 107 the Company was 
granted the powers of a trust company and the name was changed to The Victoria Trust and 
Savings Company. 

The Grey and Bruce Trust and Savings Company. 

Incorporated on April 1, 1889. under the Building Societies Act, 1887, c. 169 by declaration 
filed with the Clerk of the Peace for the County of Grey under the name of The Owen Sound 
Building and Savings Society. 

On May 10, 1889 The Owen Sound, Grey and Bruce Loan and Savings Company was in- 
corporated under the same Act by declaration filed with the Clerk of the Peace for the County 
of Grey. The name was changed to The Grey and Bruce Loan Company by Order-in-Council 
(Ontario) dated September 15, 1897. 

By Special Act 16, George V, c. 123 dated May 1, 1926 the amalgamation of The Grey and 
Bruce Loan Company and The Owen Sound Loan and Savings Company was confirmed under 
the name of The Grey and Bruce Trust and Savings Company and empowered to carry on the 
business of a trust company under The Loan and Trust Corporation Act. 

Victoria and Grey Trust Company. 

By Order-in-Council dated November 9, 1950, the amalgamation of The Victoria Trust 
and Savings Company and The Grey and Bruce Trust and Savings Company was confirmed 
under the name of Victoria and Grey Trust Company and empowered to carry on the business 
of a trust company under The Loan and Trust Corporations Act. 

SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale on Real Estate as of 
December 31, 1952, Classified as to Province 



Province 
(a) Farm (b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Company Funds 

Ontario (a) 

Ontario (b) 

Saskatchewan (a) 


$ c. 
27,224.87 
119.764.45 
194,271 59 


$ c. 


$ c. 

63.91 
1,081.14 


$ c. 
421.58 
1,426.97 


$ c. 
27,710.36 
122,272.56 
194,271.59 
844.62 


Saskatchewan (b) 


844.62 








Total Company Funds. . . 

Guaranteed Funds 

Ontario (a) 

Ontario (b) 

Saskatchewan (a) 








342,105.53 




1,145,05 


1,848.55 


345,099.13 


871,876.27 
14,890,860.02 
51,433.04 
2,404.81 


834.46 
570.49 


2,262.54 
41,348.30 


12,312.89 
159,230.12 


887,286.16 
15,092,008.93 
51,433.04 
2,404.81 


Saskatchewan (b) 








Total Guaranteed Funds 

Totals (a) 

Totals (b) 

Grand Totals 








15,816,574.14 


1,404.95 


43,610.84 


171,543.01 


16,033,132.94 


1,144,805.77 
15,013,873.90 


834.46 
570.49 


2,326.45 
42,429.44 


12,734.47 
160,657.09 


1,160,701.15 
15,217,530.92 


16,158,679.67 


1,404.95 


44,755.89 


173,391.56 


16,378,232.07 



118 



THE REPORT OF THE 



THE WATERLOO TRUST AND SAVINGS COMPANY 
Head Office, Waterloo, Ont. 

Officers 

Chairman of the Board, F. S. Kumpf; President, P. V. Wilson; Vice-Presidents, Louis L. 
Lang, T. W. Seagram; General Manager, J. W. Scott; Deputy General Manager, W. A. Bean; 
Assistant General Manager, F. M. Hearn. 

Directors 

Ford S. Kumpf, Louis L. Lang, P. V. Wilson, T. W. Seagram, Geo. H. Dobbie. W. D. 
Euler, Wm. Henderson Sr., P. R. Hilborn, Dr. W. L. Hilliard, Allan Holmes, H. C. 
Krug, H. L. McCullough, F. H. Schneider, J. W. Scott, J. E. F. Seagram, W. H. Somerville, 
C.B.E. 

Auditors 

J. F. Scully, C.A.; R. P. Uffelmann, C.A. 

Branch Offices 

Branches: Kitchener, Ont., Preston, Ont., Gait, Ont. 

Capital Stock 

Amount of Capital Stock authorized (100,000 shares of S20.00 each) $ 2,000,000.00 

Amount subscribed and paid in cash l.oOO.OOO.OO 



BALANCE SHEET AS AT DECEMBER 31, 1952 
Assets 
Company Funds 

Office premises S 390,904.31 

Book value of real estate held for sale — freehold land (including buildings) 1 .00 

Amount of loans secured by stocks, bonds and other collateral : 

(There is included in the collateral $17,589.00 of the Company's own stock 
upon which $17,589.00 has been paid.) 

Principal S 109,092.09 

Interest due 188.60 

Interest accrued 1.120.39 110,401.08 



Book value of bonds, debentures and de venture stocks: 
(a) Government of Canada, including 

guarantees $ 500,828.29 

Interest accrued 2,395.74 $ 503,224.03 



(b) Provinces of Canada, including 

guarantees 

Interest accrued 

(c) Canadian municipalities, school districts 



Interest accrued 20.12 39.315.60 



$ 


148.246.90 




737.25 


$ 


39,295.48 




20.12 



(d) All other bonds $ 278,062.04 

Interest accrued 2,356.07 280.418.11 971.941.89 



Book value of stocks 142.364.25 

Cash on hand 579.695.36 

Cash on deposit with chartered banks in Canada 4.898.70 

Advances to estates, trusts, etc., under administration 22,585.57 

Accrued fees and charges for administering estates 51.434.42 

All other assets 99.792.12 



Total Company Funds $ 2.374.018.70 



Guaranteed Funds 

Amount secured by mortgages on real estate including : — 

First mortgages S 12.598.031.51 

Agreements for sale 38.553.95 

Interest due 5.268.87 

Interest accrued 80.062.31 $ 12.721.916.64 

(See Schedule B.) 



1953 



REGISTRAR OF LOAN CORPORATIONS 



119 



THE WATERLOO TRUST AND SAVINGS COMPANY (Cont'd) 

Amount of loans, secured bv stocks, bonds and other collateral : 

Principal $ 218,906.22 

Interest accrued 1,717.28 220,623.50 

Book value of bonds, debentures and debenture stocks: 

(a) Government of Canada, including 

guarantees $ 6,733,483.67 

Interest accrued 26,478.88 $ 6,759,962.55 

(b) Provinces of Canada, including 

guarantees $ 4,001,137.23 

Interest accrued 33,652.41 4,034,789.64 

(c) Canadian municipalities, school districts 

and rural telephone companies $ 5,286,591.48 

Interest accrued 57,530.08 5,344,121.56 

(d) All other bonds $ 615,322.15 

Interest accrued 4,094.06 619,416.21 16,758,289.96 

Book value of stocks 8,626.25 

Cash on hand 66,410.31 

Cash on deposit with chartered banks in Canada, $829,332.96; 

elsewhere, $27,481.12 856,814.08 

Total Guaranteed Funds $ 30,632,680.74 

Estates, Trusts and Agency Funds 

Unrealized assets $ 8,394,068.07 

Investments 9,845,229.49 

Cash on hand and in banks 1,035,922.44 $ 19,275,220.00 

Summary of Assets 

Company Funds $ 2,374,018.70 

Guaranteed Funds 30,632,680.74 

Estates, Trusts and Agency Funds 19,275,220.00 

Grand Total of Assets $ 52,281,919.44 

Liabilities 

Company Funds 

To the Public: 

Taxes other than taxes on real estate $ 80,652.70 

Dividends to shareholders declared and unpaid 41,250.00 

Total 121,902.70 

To the Shareholders: 

Paid-in Capital $ 1,500,000.00 

Reserve Fund 650,000.00 

Balance of Profit and Loss Account 102,116.00 

Total $ 2,252,116.00 

Total Company Funds $ 2,374,018.70 

Guaranteed Funds 

Trust deposits $23,106,155.41 

Accrued interest 97,612.74 $23,203,768.15 

General Guaranteed Funds 7,319,379.34 

Interest due and accrued 109,533.25 7,428,912.59 

Total Guaranteed Funds $ 30,632,680.74 

Estates, Trusts and Agency Funds 

Estates $ 9,896,052.12 

Trusts and Agencies 9,356,582.31 

Due to Company Funds 22,585.57 $ 19,275,220.00 



120 



THE REPORT OF THE 



THE WATERLOO TRUST AND SAVINGS COMPANY (Cont'd) 

Summary of Liabilities 

Company Funds $ 2,374,018.70 

Guaranteed Funds 30,632,680.74 

Estates, Trusts and Agency Funds 19,275,220.00 

Grand Total of Liabilities $52,281,919.44 



REVENUE ACCOUNT 
Income 

Rents earned, net — on office premises $ 8,714.44 

Interest and Dividends earned on: 

(a) Collateral loans $ 5,258.53 

(b) Bonds and debentures 33,273.40 

(c) Dividends on stocks 6,714.10 

(d) Bank deposits 330.47 

(e) Other interest earned 2,879.00 48,455.50 

Profit on sale of securities and real estate 15,563.99 

Profit in guaranteed funds 537,778.36 

Agency fees and commissions earned 135,130.23 

All other revenue for the year 14,951.66 



Total $ 760,594.18 



Expenditure 

Interest incurred $ 531.64 

Amount by which ledger values of assets were written down 35.000.00 

License fees and taxes other than taxes on real estate: 

(a) Dominion $ 121,500.00 

(b) Municipal 6,136.68 127,636.68 

Commissions on loans and on sale of real estate 10,342.02 

Amount transferred to Investment Reserves 23,000.00 

All other expenses incurred : 

(a) Salaries S 303,648.07 

(b) Directors' and Advisory Committee fees 14,569.00 

(c) Auditors' fees 3,500.00 

(d) Legal Fees 786.50 

(e) Rents 12.896.25 

(f) Travelling expenses 2,549.35 

(g) Printing and stationery 12,378.73 

(h) Advertising 18.173.64 

(i) Postage, telegrams, telephones and express 7.588.28 

(j) Commission on sale of G.I. Certificates 2.005.83 

(k) Maintenance of office premises 4,235.06 

(1) Miscellaneous 57,241.78 439,572.49 

Net profit transferred to Profit and Loss Account 124,511.35 

Total $ 760,594.18 

PROFIT AND LOSS ACCOUNT 

Balance brought forward from previous year. $ 120,104.65 

Amount transferred from Revenue Account 124,511.35 



Total $ 244.616.00 



Dividends to shareholders declared during year $ 82,500.00 

Amount transferred to Reserve Fund 50.000.00 

Amount transferred to Staff Pension and Benefit Fund 10,000.00 

Balance of account at December 31, 1952 102.1 16.00 



Total S 244,616.00 



1953 



REGISTRAR OF LOAN CORPORATIONS 



121 



THE WATERLOO TRUST AND SAVINGS COMPANY (Conrl'd) 
MISCELLANEOUS 

Fidelity bonds on officers of the Corporation — U.S. Fidelity and Guarantee Co. Brokers Blanket 
Policy No. -02-4 17-45. expiring January 2, 1955 for $700,000. covering any one officer or 
clerk while in the employ of the Trust Company. 

Dividends and bonuses declared during year — (a) dates declared, (b) dates payable, (c) rates: 
(a) May 16, 1952 (b) July 2, 1952 (c) 5}4% 

(a) November 21, 1952 (b) January 2, 1953 (c) 5 l A% 

Date appointed for the Annual Meeting — February 3, 1953. 

Date of last Annual Meeting— February 5. 1952. 

Amount belonging to Estates, Trusts and Agency Funds held on deposit in Guaranteed Funds 

Department— $723,626.49. 
Amount of fees paid to the Company from Advances made by it during the year— $1,648.28. 
Amount of Company's own Guaranteed Investment Receipts and interest thereon, due and 

unpaid— $52,308.90. 



CONSTATING INSTRUMENTS 

Originally incorporated as a Loan Corporation by Letters Patent 7th April. 1913, under the 
Loan and Trust Corporation Act, 2 George V. 1912, chap. 34, now R.S.O. 1937, chap. 257, the 
original corporate name was The Waterloo County Loan and Savings Company. 

By a Special Act of the legislature of Ontario, 12-13, Geo. V. C. 148, the Company was granted 
the powers of a Trust Company and the name was changed to The Waterloo Trust and Savings 
Company. Assented to May 4th, 1922. 

An Order-in-Council was granted August 1st. 1922, empowering the Courts to appoint The 
Waterloo Trust and Savings Company as trustee, administrator, etc. without security. (R.S.O. 
1937, C. 257, sec. 21, or acts for which the same was submitted.) 

Order-in-Council approved whereby trustees may entrust The Waterloo Trust and Savings 
Company with trust funds for guaranteed investment as set out in the Loan and Trust Corpora- 
tions Act, in accordance with the provision of the Trustee Act, 16 Geo. V. C. 40, sec. 27; R.S.O. 
1937, C. 165, sec. 26. 

Order-in-Council confirmed on the 20th day of March 1952, approving subdivision of the 
shares of the capital stock of the Company of a par value of $100.00 each into five shares of the 
par value of $20.00 each, under Section 58 of the Loan and Trust Corporations Act being Chapter 
214 of the Revised Statutes of Ontario, 1950. 



SCHEDULE B 



Summary of Mortgage Loans and Agreements for Sale as of December 31, 

Classified as to Province 



1952 



Province 

(a) Farm 

(b) Urban 


Principal 
Outstand- 
ing 


Charges 
Outstand- 
ing 


Interest 
Due and 
Unpaid 


Interest 
Accrued 


Totals 


Amount of 
Interest 

Due 
and Not 
Charged 


Guaranteed 
Funds 
Ontario (a) 


$ c. 
312,488.80 
12,155,986.67 
280,463.04 
1,347.60 
53,885.39 


$ c. 
73.29 
9,290.93 


$ c. 
209.62 
4,984.81 
74.44 


$ c. 
5,265.67 
76,034.24 
1,748.26 
14.14 


$ c. 
318,037.38 
12,246,296.65 
282,285.74 
1,361.74 
55,821.17 


$ c. 


Ontario (b) 




Quebec (b) 




Manitoba . . . .(b) 
Saskatchewan (a) 

Totals (a) 

Totals (b) 






1,935.78 




—17,450.82 






366,374.19 
12,437,797,31 


2,009.07 
9,290.93 


209.62 
5.059.25 


5,265.67 
77,796.64 


373,858.55 
12,529,944.13 


—17,450.82 


Grand Totals . 


12,804,171.50 


11,300.00 


5,268.87 


83,062.31 


12,903,802.68 


—17,450.82 



ABSTRACT 

OF THE 

ANNUAL REPORT 

OF THE REGISTRAR OF 

LOAN AND TRUST CORPORATIONS 

ONTARIO 

Being a Tabulated Summary of the Statements (subject to correction! 
made by Loan and Trust Corporations pursuant to Section 146 of 
The Loan and Trust Corporations Act. 

FOR THE YEAR ENDING DECEMBER 31 

1952 



PRINTED BY ORDER OF 
THE LEGISLATIVE ASSEMBLY OF ONTARIO 




ONTARIO 



TORONTO 

Printed and Published by Baptist Johnston 
Printer to the Queen's Most Excellent Majesty 

19 5 3 



Loan Corporations 



1. ASSETS 

2. LIABILITIES 

3. INCOME 

4. EXPENDITURES 

5. PROFIT AND LOSS ACCOUNT 



[125] 



126 



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127 



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131 



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REGISTRAR OF LOAN CORPORATIONS 



133 



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4. LIABILITIES (Guaranteed Funds) 

5. INCOME 

6. EXPENDITURE 

7. PROFIT AND LOSS ACCOUNT 

8. GUARANTEED FUND REVENUE 



1137] 



138 



THE REPORT OF THE 




1953 



REGISTRAR OF LOAN CORPORATIONS 



139 



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REGISTRAR OF LOAN CORPORATIONS 



141 



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Miscellaneous Statements and 
Summaries 

1. MORTGAGES AND AGREEMENTS ON REAL ESTATE, CLASSIFIED AS TO 
PROVINCES: 

A. Loan Corporations 

B. Trust Companies (Company Funds) 

C. Trust Companies (Guaranteed Funds) 

2. COMPARATIVE SUMMARY OF ASSETS AND LIABILITIES OF: 

A. Loan Corporations 

B. Trust Companies (Company Funds) 

C. Trust Companies (Guaranteed Funds) 

3. COMPARATIVE SUMMARY OF INCOME AND EXPENDITURES OF LOAN 
AND TRUST CORPORATIONS 



[153] 



154 



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1953 



REGISTRAR OF LOAN CORPORATIONS 



159 



5 9 



ro 30 oo • 



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160 



THE REPORT OF THE 



COMPARATIVE SUMMARY OF ASSETS AND 





1947 


1948 




ASSETS AND LIABILITIES 


















Percent- 










Amount 


age to 


A viru imt 










Total 




Total 








Assets 




A CCtTTC 
Aooc. 1 O 




ASSETS 


$ c. 


% 


$ c. 


% 




Office premises 


5,430,391.32 


2 


.28 


5,361,631.07 


2.22 




Resl est3te held for ss.le 


1,910,872.71 




80 


1,815,501.67 


.75 


2 


IVlort|3[3££es on ronl estste 


124,825,244.91 


52 


49 


140,356,874.08 


58.27 


3 




309,091.05 




13 


714,253.91 


.30 


4 


Government, and Government guaranteed Bonds, 














Canada and United Kingdom 


63,851,337.57 


26 


85 


48,632,699.58 


20.19 


5 


Provincial and provincial guaranteed Bonds 


5,307,708.82 


2 


24 


6,179,257.34 


2.56 


6 




1,911,581.94 




81 


1,856,169.28 


.77 


7 


Ail other bonds 


4,682,005.54 


1 


96 


3,789,574.29 


1.57 


8 


Stocks 


18,815,022.40 


7 


91 


21,154,233.42 


8. 78 


9 


Cash 


9,722,369.92 


4 


09 


10,210,442.41 


4.24 


10 


All other assets 


1,023,361.90 




44 


839,763.56 


.35 


11 




oorr too aoo no 

237,788,988.08 


100 


00 


240,910,400.61 


100.00 




LIABILITIES 














To the Public 
















83,535,801.14 






82,194,400.92 




12 




13,372,691.96 




11,745,984.14 




13 




69,152,722.87 




76,028,964.03 




14 




2,500.00 




64,673.98 




15 




8,188,380.14 




1,399,897.89 




16 


All other liabilities 


10,216,017.73 




16,148,768.01 




17 














Totals 


184,468,113.84 


77 


57 


187,582,688.97 


77.87 




To Shareholders 














Capital Stock, Permanent 


31,349,117.19 






31,239,117.19 




18 


Capital Stock, Terminating 


236,716.03 




262,585.13 




19 


Reserve Fund and Contingency Reserve 


19,083,993.46 




19,043,953.35 




20 


Profit and loss 


2,651,047.56 




2,782,055.97 




21 














Totals 


53,320,874.24 


22 


43 


53,327,711.64 


22.13 




Grand Totals to the Public and 














Shareholders 


237,788,988.08 


100. 


00 


240,910,422.61 


100.00 




Capital Stock 














Capital subscribed 


35,944,697.19 






35,880,797.19 




22 


Capital paid in cash 


31,585,833.22 




31,501,702.32 




23 

















1953 



REGISTRAR OF LOAN CORPORATIONS 



161 



LIABILITIES OF LOAN CORPORATIONS 





1949 


1950 


1951 


1952 




Amount 


Percent- 
age to 
Total 
Assets 


Amount 


Percent- 
age to 
Total 
Assets 


Amount 


Percent- 
age to 
Total 
Assets 


Amount 


Percent- 
age to 
Total 
Assets 




$ c. 


% 


$ c. 


% 


$ c. 


% 


$ c. 


% 


1 

2 
3 
4 


5,618,503.00 
1,308,669.77 
159,718,904.02 
1,462,086.92 


2.24 
.52 
63.87 
.58 


5,900,857.12 
1,181,841.93 
191,302,690.91 
2,643,107.91 


2.12 
.42 
68.89 

.95 


6,257,240.26 
1,690,732.32 
205,608,497.02 
704,756.16 


2.20 
.59 
72.40 
.26 


6,582,925.07 
1,792,286.49 
217,957,251.73 
1,829,249.00 


2.22 
.60 
73.70 
.62 


5 
6 
7 
8 
9 
10 
11 


41,570,434.77 
6,168,584.53 
2,150,962.25 
2,294,409.98 

20,691,835.12 
8,938,292.87 
23,259.25 


16.62 
2.47 
.86 
.92 
8.26 
3.57 
.09 


37,059,257.33 
5,790,375.64 
2,403,047.51 
874,507.35 
18,922,538.82 
11,695,246.14 
84,700.07 


13.33 
2.07 
.86 
.31 
6.81 
4.21 
.03 


37,636,747.63 
4,299,216,97 
1,913,910.44 
514,546.88 
11,606,129.51 
13,157,380.56 
590,200.42 


13.25 
1.51 
.67 
.18 
4.09 
4.64 
.21 


36,353,091.76 
4,216,263.49 
2,909,704.00 
1,992,898.17 

11,687,530.15 
9,850,801.83 
583,035.55 


12.29 
1.43 
.98 
.68 
3.95 
3.33 
.20 





249,945,942.48 




100.00 


277,858,170.73 


100.00 


283,979,358.17 




100.00 


295,755,037.24 


100.00 


12 


87,844,764.92 




107,702,628.33 
9,017,369.66 
90,041,978.87 
7,058.49 
709,672.72 
16,982,210.43 




123,801,859.32 
7,874,725.95 
86,905,896.36 
1,018.10 
816,225.97 
17,557,614.06 




130,788,960.48 
7,131,652.25 
91,383,790.23 





13 


10,389,692.44 
82,653,331.02 










14 










15 


30,508.27 










16 


1,018,451.16 








955,510.48 
17,978,920.04 




17 


16,187,591.71 






















198,124,339.52 


79.26 


224,460,918.50 


80.74 


236,957,339.76 


83.44 


248,238,833.48 


83.94 


18 


30,273,917.19 




31,773,917.19 




27,273,917.19 




27,173,917.19 




19 










20 


19,208,008.65 




19,164,502.88 

O A RQ QOO 1 C 

Z,4oo,ooZ.lb 




17,340,473.63 

O ACYl COI CO 

z,4o/,oj/.Dy 




18,116,750.82 

Z,ZZO,DOO. IO 




21 






















51,821,602.96 


20.74 


53,397,252.23 


19.26 


47,022,018.41 


16.56 


47,516,203.76 


16.06 




249,945,942.48 


100.00 


277,858,170.73 


100.00 


283,979,358.17 


100.00 


295,755,037.24 


100.00 


22 


34,273,917.19 




35,773,917.19 




31,173,917.19 
27,273,917.19 




31,173,917.19 
27,173,917.19 




23 


30,273,917.19 




31,773,917.19 



















162 



THE REPORT OF THE 



COMPARATIVE SUMMARY OF ASSETS AND 



Company 





1947 


1948 




















Percent- 




Percent- 






Amount 


age to 


Amount 


age to 








Total 




Total 








Assets 




Assets 




ASSETS 


$ c. 


% 


S c. 


% 






5,218,076.26 


8.28 


6,319,975 50 


8.59 


1 


Real estate held for sale : . . 


687,088.66 


1.09 


. 166,453.30 


.25 


2 


Mortgages on real estate 


10,315,748.23 


16.38 


10,724,158.12 


18.18 


3 




3,326,361.32 


5.28 


4,234,056.05 


6.43 


4 


Government, and Government guaranteed Bonds, 












Canada and United Kingdom 


16,041,151.56 


25.46 


15,010,803.45 


21.99 


5 


Provincial and Provincial guaranteed Bonds 


o q i o a o i 
2,o4^,4^1.7o 


4. 51 


OQO COO QC 


6.65 


6 


Canadian municipalities, school districts and rural 












telephone debentures 


1.329,715.96 


2.11 


1,428,372.84 


2. 16 






7,305,047.46 


11.59 


8,298,113.24 


12.60 


S 






14 . 73 


q no i i "jo oa 


13.80 


9 




3,160,195.53 


5.02 


2,968,731.38 


4.34 


10 


All other assets 


o,tyi,yo i . / o 


5 55 




5.01 


11 


Total Assets 


62.997,119.29 


100.00 


65,838,653.18 


100.00 




LIABILITIES 












To the Public 












Money borrowed from banks and elsewhere 


6,651,855.36 




7,232.030.35 




12 


Dividends declared and unpaid 






o3b,blo. ID 




L3 


All other liabilities 


3,118,738.89 




3,195,663.28 




14 












10,327,490.27 


16.39 


10.984.306.78 


16.62 




To Shareholders 












Capital Stock, Permanent 


26,009,041.49 




27.012,142.49 




15 




23,097,470.97 




23.936,055.18 




16 




3,563,116.56 




3.906,148.73 




17 










Totals 


52,669,629.02 


83.61 


54,854,346.40 


83.38 




Grand Totals 


62.997,119.29 


100.00 


65.838.653.18 


100.00 




Capital Stock 












Capital subscribed 


26,403,420.00 




27,403.350.00 




18 


Capital paid in cash 


26,009,041.49 




27.012.142.19 




19 











1953 



REGISTRAR OF LOAN CORPORATIONS 



163 



LIABILITIES OF TRUST COMPANIES 
Funds 



1949 


1950 


1951 


1952 


Amount 


Percent- 
age to 
Total 
Assets 


Amount 


Percent- 
age to 
Total 
Assets 


Amount 


Percent- 
age to 
Total 
Assets 


Amount 


Percent- 
age to 
Total 
Assets 


$ c. 


% 


$ c. 


% 


$ c 


% 


$ c 


% 


6,821,357.15 
142,994.39 
12,823,848.76 
3,505,847.09 


10.23 
.21 
19.24 
5.25 


7,040,179.82 
145,146.99 
15,699,262.52 
3,756,563.42 


9.68 
.19 
21.58 
5.17 


i ,594,0/3.05 
69,448.86 
17,239,828.64 
4,891,415.95 


9.86 
.08 
22.40 
6.35 


7,603,812.38 
53,754.68 
15,248,695.58 
5,276,193.61 


9.91 
.07 
19.88 
6.88 


12,170,895.68 
3,735,974.71 


18.26 
5.60 


14,003,488.16 
3,299,175.32 


19.26 
4.54 


12,683,031.05 
4,048,926.22 


16.47 
5.26 


12,430,348.82 
4,007,801.09 


16.21 
5.23 


2,121,330.50 
9,250,335.10 
8,630,210.11 
3,475,407.22 
3,966,301.12 


3. 19 
13.88 
12.94 
5.23 
5.97 


2,508,538.33 
9,351,957.29 
8,772,629.49 
3,956,998.07 
4,196,356.17 


3.45 
12.86 
12.06 
5.44 
5.77 


1,808,404.07 
9,598,722.78 
10,457,996.41 
3,170,962.60 
5,399,413.08 


2.34 
12.47 
13.58 
4.18 
7.01 


1,902,203.01 
9,252,747.83 
12,386,985.49 
3,237,669.67 
5,297,198.20 


2.48 
12.06 
16.15 
4.22 
6.91 


66,644,501.83 


100.00 


72,730,295.58 


100.00 


76,962,222.71 


100.00 


76,697,410.36 


100.00 


6,888,161.35 
581,391.75 
3,309,386.41 




6,865,479.05 
669,811.29 
3,996,491.01 




8,096,080.87 
703,388.13 
3,941,580.33 




7,359,202.96 
720,283.89 


















3,761,838.44 












10,778,939.51 


16.17 


11,531,781.35 


15.85 


12,741,049.33 


16.55 


11,841,325.29 


15.44 


27,306,399.00 
24,755,570.51 
3,803,592.81 




29,540,501.00 
26,969,501.84 
4,688,511.39 




31,627,205.00 
27,349,557.49 
5,244,410.89 




31,427,407.00 
28,298,349.01 
5,130,329.06 




























55,865,562.32 


83.82 


61,198,514.23 


84.15 


64,221,173.38 


83.45 


64,856,085.07 


84.56 


66,644,501.83 




72,730,295.58 




76,962,222.71 


100.00 


76,697,410.36 


100.00 






27,592,920.00 
27,306,399.00 




29,740,420.00 
29,540,501.00 




31,807,070.00 
31,627,205.00 




31,507,070.00 
31,427,407.00 





















164 



THE REPORT OF THE 



COMPARATIVE SUMMARY OF ASSETS AND 



Guaranteed 





1947 


1948 




ASSETS AND LIABILITIES 
















Percent- 




Percent- 






Amount 


age to 


Amount 


age to 








Total 




Total 








Assets 




Assets 




ASSETS 


$ c. 


% 


$ c. 




% 




Mortgages on real estate 


56,809,842.22 


25.27 


65,566,632.95 


24.42 


1 


Loans on stocks and bonds 


G. fiQQ A AG. Of\ 
0,0oo,440.^U 


£. . yo 


o_, / oo.yio. 1<£ 


2 . 66 


2 


Government, and Government guaranteed Bonds, 












Canada and United Kingdom 


111,211,737.01 


49.47 


116,347,538.87 


46.24 


3 




14,199,342.31 


6.32 


19,551,741.91 


9.52 


4 


Canadian municipalities, etc 


10.545,759.67 


4.69 


14,657,053.88 


5.83 


5 


All other bonds and stocks 


A vJ, 1 yJ Z7 , § \J£i .KJZf 


6. 74 


Ifi Q^Q 00 


6 52 


6 


Cash 


10,212,044.85 


4.54 


12,376,963.35 


4.81 


7 


All other assets 


35,332.52 


.02 


9,382.52 




8 








224,787.256.87 


100.00 


251.612,166.50 


100.00 




LIABILITIES 














112,394,929.04 


49.99 


128,141,904.52 


51.22 


9 




3.612,661.91 


1.61 


2,268,787.84 


.90 


10 




108,765,862.76 


48.38 


121,157,171.30 


47.71 


11 


Due to Company Funds 


13,803.16 


.02 


44,302.84 


.17 


12 


Total Liabilities 


224,787.256.87 


100.00 


251,612,166.50 


100.00 




Estates, Trusts and Agency Funds 


2,801,268,394.15 




2,880,988,290.62 













*Debit 

-(-Includes $640,000.00 Investment Reserves. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



165 



LIABILITIES OF TRUST COMPANIES 



Funds 





1949 


1950 


1951 


1952 






Percent- 




Percent- 




Percent- 




Percent- 




Amount 


age to 


Amount 


age to 


Amount 


age to 


Amount 


age to 






Total 




Total 




Total 




Total 






Assets 




Assets 




Assets 




Assets 




$ c. 


% 


S c. 


07 
70 


$ c. 


% 


$ c. 


% 


1 


75,111,958.47 


26.56 


87,187,739.57 


27.27 


100.686.039.66 


30.02 


110,885,205.84 


31.23 


2 


7,733,521.79 


2.73 


10.620,046.93 


3.32 


15,303,097.52 


4.56 


14,871,915.72 


4.19 


3 


126,106,900.65 


44.60 


130,293,736.91 


40.76 


120,531,243.06 


35.94 


111,315,625.48 


31.35 


4 


30,151,783.43 


10.66 


35,480,090.57 


11.10 


34,477,954.62 


10.28 


37,312,184.64 


10.51 


5 


16,014,540.09 


5.67 


18,539,204.86 


5.80 


22,502,672.79 


6.71 


25,143,907.21 


7.08 


6 


15,488,383.63 


5.48 


21,732,613.09 


6.79 


25,742,423.53 


7.67 


29,576,014.24 


8.33 


7 


12,160,517.25 


4.30 


15,883,852.45 


4.96 


16,099,795.99 


4.82 


25,944,228.71 


7.31 


8 






* 17,941.19 




* 39,181.63 




787.70 
















282,767,604.71 


100.00 


319,719.343.19 


100.00 


335,304,045.54 


100.00 


355,049,869.54 


100.00 


9 


135,387,840 69 


47.89 


152,748,550.29 


47.75 


159,891,976.42 


47.68 


174,327,891.95 


49.10 


10 


10,441,761.86 


3.69 


8,119,580.20 


2.56 


3,160,768.25 


.94 


3,444,591.88 


.97 


11 


136,857,702.16 


48.39 


158,539,556.10 


49.60 


171,564,273.61 


51.16 


176,637,035.15 


49.75 


12 


80,300.00 


.03 


311,656.60 


.09 


687,027.26 


.22 


t 640,350.56 


.18 




282,767,604.71 


100.00 


319,719,343.19 


100.00 


335,304,045.54 


100.00 


355,049,869.54 


100.00 




2,963,471,316.96 




3,267.472,162.71 




3,593,376,220.37 




3,731,933,224.65 





166 



THE REPORT OF THE 



COMPARATIVE SUMMARY 





1949 






INCOME AND EXPENDITURE 














Loan 


Trust 




Loan 






Corpora- 


Com- 


Totals 


Corpora- 






tions 


panies 




tions 




INCOME 


S c. 


$ c. 


$ c. 


$ c. 




Rents earned 


165,704.92 


153,476.27 


319,181.19 


315,384.61 


1 


Interest earned on mortgages, bonds, stocks, etc 


10,560,794.21 


2,410,132.37 


12,970,926.58 


12,362,429.04 


2 


Profit on sale of securities and real estate 


CA A 1 TA TO 


a cc ao c ctz 
4 bb, (Job. DO 


i c\c\f\ oac A A 


748,016.77 


3 


Amount transferred from Investment Reserve* 




lo,Doo.4y 


1 O COO A A 


*1,326,946.37 


4 


Profit in Guaranteed Funds 




A 1 OO AOA OC 


A 1 OO AAA OC 




5 




OO OOC C7 

^8,2/6.5/ 


in £2 AT* O CO 

lZ,b07,358. /I 


io Coc COC OO 

lZ,o35,585.28 


18,597.93 






JOA not OC 

4Z0, / 35.25 


OOO Cf\A A C 

333,590.45 


754,325.70 


905,145.18 


7 


Totals 


11,719,631.73 


OA 1 AT OOO OA 

M, 10/, 62.2.. d\j 


31,8zb,954.03 


1 C £2 '-7/? r i r\ rv/"\ 

15,076,519.90 




EXPENDITURE 












Interest incurred during the year 


3,989,519.48 


35,677.06 


4,025,196.54 


4, / 98, 40b. 48 


8 


Loss on sale of securities and real estate 


45,773.55 


3,953.05 


49,726.60 


29,460.14 


9 


Amount by which ledger values of assets were 












written down 


172,890.43 


212,117.45 


385,007.88 


282,247.63 


10 


Licenses and taxes other than taxes on real estate 


1,475,086.61 


2,072,187.92 


3,547,274.53 


9 471 *377 90 


1 1 


Commissions 




92,734.18 


92,734.18 




12 


Transfeired to Investment Reserves 


685,802.26 


532,096.30 


1,217,898.56 


1,982,490.22 


13 


All other expenses 


2,800,040.24 


13,870,632.11 


16,670,672.35 


3,243,388.86 


14 


Profit and loss 


2,550,519.16 


3,287,924.23 


5,838,443.39 


2,869,149.37 


15 


Totals 


11,719,631.73 


20,107,322.30 


31,826,954.03 


15,676,519.90 





"■Including assets written up. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



167 



OF INCOME AND EXPENDITURE 



1950 



Trust 
Com- 
panies 



$ c. 

136,962.26 
2,674,477.40 
390,412.24 
13,078.87 
4,955,044.54 
14,705,771.40 
292,915.50 



23,168,662.21 



7,416.89 
12,354.87 

264,926.16 
2,843,411.27 
99,453.32 
512,510.98 
15,834,469.58 
3,594,119.14 



Totals 



452,346.87 
15,036,906.44 
1,138,429.01 
1,340,025.24 
4,955,044.54 
14,724,369.33 
1,198,060.68 



38,845,182.11 



4,805,823.37 
41,815.01 

547,173.79 
5,314,788.47 
99,453.32 
2,495,001.20 
19,077,858.44 
6,463,268.51 



Loan 
Corpora- 
tions 



$ c. 

333,181.33 
13,238,683.14 
476,100.32 
30.00 



8,786.77 
690,474.49 



14,747,256.05 



5,182,751.23 
230,488.71 



304,130.84 
2,521,041.52 



272,336.60 
3,537,302.79 
2,699,204.36 



1951 



Trust 
Com- 
panies 



113,743.14 
3,047,854.59 
512,019.53 
24,928.26 
4,628,690.87 
17,041,989.85 



Totals 



S c. 

446,924.47 
16,286,537.73 
988,119.85 
24.958.26 
4,628,690.87 
17,050,776.62 



431.001.20l 1,121,475.69 



25.700.227.44 



14,021.78 
11.885.20 

180,149.81 
3,225,279.76 
98,276.76 
1,061,650.76 
17,834,623.11 
3,274,340.26 



40,447,483.49 



5,196,773.01 
242,373.91 

484,280.65 
5,746,321.28 
98,276.76 
1,333,987.36 
21,371,925.90 
5,973,544.62 



Loan 
Corpora- 
tions 



$ 

356,541.76 
14,219,930.87 
463,178.12 
13.40 



11,842.09 
875,165.32 



15.926,671.56 



5,716,449.57 
296,912.67 



262,489.09 
2,616,264.34 



312,869.54 
3,972,306.22 
2,749,380.13 



1952 



Trust 
Com- 
panies 



180,572.34 
3,054,175.20 
311,626.19 



5,268,772.56 
17,900,126.49 
360.917.68 



27,076,190.46 



8.927.12 
9,517.52 

183,904.69 
3,300,706.75 
84,328.82 
572,278.63 
19,379,873.68 
3,536,653.25 



Totals 



$ c. 

537,114.10 
17,274,106.07 
774,804.31 
13.40 
5,268,772.56 
17.911.968.58 
1,236,083.00 



43,002,862.02 



5,725,376.99 
306,430.19 

446,393.78 
5,916,971.09 
84,328.82 
885,148.17 
23,352,179.90 
6,286,033.38 



23,168,662.21 



38,845.182.11 



14,747,256.05 



25.700,227.44 



40,447,483.49 



15,926,671.56 



27,076,190.46 



43,002,862.02 



168 



THE REPORT OF THE 



AVERAGE RATES OF INTEREST EARNED OR INCURRED AND AVERAGE 
DIVIDENDS PAID BY LOAN AND TRUST CORPORATIONS 

FOR THE YEAR 1949 



Average rate earned on: 

Mortgages of realty 

Collateral loans 

Bonds and debentures 

Stocks 

Average rate paid on: 

Deposits 

Debentures and debenture stocks or G.I.R's 
Average rate of dividends, including bonuses 



Loan 
Corporations 



5.16 
2.80 
2.29 
5.18 

1.46 
2.82 
7.23 



Trust Companies 



Company 
Funds 



5.26 
5.11 
3.19 
6.17 



8.01 



Guaranteed 
Funds 



1.51 
2.16 



FOR THE YEAR 1950 



Average rate earned on: 

Mortgages of realty 

Collateral loans 

Bonds and debentures 

Stocks 

Average rate paid on: 

Deposits 

Debentures and debenture stocks or G.I.R's 
Average rate of dividends, including bonuses . . . . 



Loan 
Corporations 



5.02 
1.25 
3.27 
5.09 

1.48 
2.88 
7.18 



Trust Companies 



Company 
Funds 



4.78 
5.77 
3.25 
6.51 



8.14 



Guaranteed 
Funds 



1.69 
1.94 



FOR THE YEAR 1951 



Average rate earned on : 

Mortgages of realty ' 

Collateral loans 

Bonds and debentures 

Stocks 

Average rate paid on: 

Deposits 

Debentures and debenture stocks or G.I.R's 
Average rate of dividends, including bonuses . . . . 



Loan 
Corporations 



5.60 
.77 
3.14 
4.35 

1.64 
2.99 

7.77 



Trust Companies 



Company 
Funds 



5.50 
6.08 
3.45 
6.28 



8.52 



Guaranteed 
Funds 



2.53 
2.31 



FOR THE YEAR 1952 



Average rate earned on: 

Mortgages of realty 

Collateral loans 

Bonds and debentures 

Stocks 

Average rate paid on: 

Deposits 

Debentures and debenture stocks or G.I.R's 
Average rate of dividends, including bonuses. . . 



Loan 
Corporations 



5.70 
.97 
3.32 
9.22 

1.60 
3.18 
7.90 



Trust Companies 



Company 
Funds 



5.87 
5.07 
3.41 
6.00 



8.75 



Guaranteed 
Funds 



1.67 
2.49 



1953 



REGISTRAR OF LOAN CORPORATIONS 



169 



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HALF-YEARLY STATEMENTS 

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DEPOSITS 

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SECURITIES ON HAND AND AVAILABLE FOR DEPOSITORS 

FILED BY 

LOAN AND TRUST CORPORATIONS 

December 31, 1952, and June 30, 1953 

i * 

Pursuant to Sections 145 or 144 (3) of The Loan and 
Trust Corporations Act. 



Sec. 145. Every loan company receiving deposits shall make a return to the Registrarfhalf- 
yearly on or before the 15th days of January and July in each year, drawn in accordance with 
the form prescribed by the Registrar, showing the amount of the deposits and showing the 
amount of cash on hand and on deposit and the amount of debentures, bonds, stock or other 
securities of or guaranteed by Canada, and of or guaranteed by any province of Canada less 
any incumbrances thereon and the amount of bonds, debentures and other securities of any 
municipal corporation in Ontario, or of any city in Canada, less any incumbrances thereon and 
the bonds or debentures issued by any company incorporated in Canada in respect of which 
bonds or debentures annual or semi-annual subsidy payments sufficient to pay both principal 
and interest thereof are, by virtue of any Act of Canada or of a province thereof, payable by 
the government of Canada or province thereof to a trust company as trustee for the holders of 
such bonds or debentures, and the principal amount of any moneys payable to the company on 
demand, the payment of which is secured by the mortgage or pledge of any of the securities 
mentioned in this section as such amounts stood at the end of the last preceding month, and 
stating that the same were at the date mentioned in such return on hand and available for 
depositors. 

Sec. 144. — (3) Every trust company receiving deposits in the manner authorized by sub- 
section 1 of section 78 shall make a return to the Registrar on or before the 15th days of January 
and July in each year, drawn in accordance with the form prescribed by the Registrar, showing 
the amount of the deposits and showing the amount of cash on hand and on deposit, and the 
amount of debentures, bonds, stock or other securities of, or guaranteed by Canada, and of, or 
guaranteed by, any province of Canada, less any incumbrances thereon, and the amount of 
bonds, debentures and other securities of any municipal corporation in Ontario or of any city 
in Canada, less any incumbrances thereon and the bonds or debentures issued by any company 
incorporated in Canada in respect of which bonds or debentures annual or semi-annual subsidy 
payments sufficient to pay both principal and interest thereof are, by virtue of any Act of Canada 
or of a province thereof, payable by the government of Canada or province thereof to a trust 
company as trustee for the holders of such bonds or debentures, and the principal amount of 
any moneys payable to the company on demand, the payment of which is secured by the 
mortgage or pledge of any of the securities mentioned in this subsection as the said amounts 
stood at the end of the last preceding month, and including in such return all such cash and 
securities and loans as defined in this subsection, whether owned by the company or held by it 
for guaranteed investments under section 80 or 78 and stating that the same were at the date 
mentioned in such return on hand. 



[171] 



172 



THE REPORT OF THE 



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REGISTRAR OF LOAN CORPORATIONS 



173 



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[175] 



176 



THE REPORT OF THE 



LIST OF LOAN 



Page 



Name of Company 



Chief Office in 
Ontario 



3 Canada Permanent Mortgage Corporation . . . 

Credit Foncier Franco-Canadien 

1 1 Eastern Canada Savings and Loan Company 

14 Huron and Erie Mortgage Corporation 

18 Lambton Loan and Investment Company . . . 

21 Ontario Loan and Debenture Company 

24 Toronto Mortgage Company 



Toronto 
Toronto 
Toronto 
London . 
Sarnia. . 
London . 
Toronto 



1953 



REGISTRAR OF LOAN CORPORATIONS 



177 



CORPORATIONS 



Manager, Secretary or 
*Chief Agent 



Charles S. Robertson 

*R. F. Ogletree 

G. W. Hazen 

M. Aylsworth 

G. C. Norsworthy . . . 
F. Earl A. McKellar. 
Charles J. Pettit 



President 



Charles S. Robertson . . . 

Andre Debray 

C. A. B. Bullock 

M. Aylsworth 

J. A. Smith 

Archibald McPherson. . 
Gerard B. Strathy, Q.C. 



When 
Incorporated 



1st March 1855 
24th July 1880 

1887 

18th March 1864 
27th March 1847 
26th September 1870 
15th December 1899 



178 



THE REPORT OF THE 



LIST OF TRUST 



Name of Company 



Chief Office in 
Ontario 



Administration and Trust Company 

Bankers' Trust Company 

Barclays Trust Company of Canada 

British Empire Trust Company, Limited 

British Mortgage and Trust Corporation of Ontario. 

Brockville Trust and Savings Company 

Canada Permanent Trust Company 

Canada Trust Company 

Chartered Trust Company 

Chase National Executors and Trustees Corp. Ltd. . 

Crown Trust Company 

Eastern Trust Company 

General Trust of Canada 

Guaranty Trust Company of Canada 

Industrial Mortgage and Trust Company 

Lambton Trust Company 

Montreal Trust Company 

National Trust Company, Limited 

Northern Trusts Company 

Premier Trust Company 

Prudential Trust Company, Limited 

Royal Trust Company 

Sterling Trusts Corporation 

Toronto General Trusts Corporation 

Victoria and Grey Trust Company 

Waterloo Trust and Savings Company 



Ottawa . . . 
Toronto. . 
Toronto. . 
Toronto. . 
Stratford . 
Brockville 
Toronto. . 
London. . . 
Toronto. . 
Toronto. . 
Toronto. . 
Toronto. . 
Ottawa. . . 
Toronto. . 
Sarnia 
Sarnia 
Toronto. . 
Toronto. . . 
Toronto. . 
Toronto. . 
Toronto. . 
Toronto. . 
Toronto. . . 
Toronto. . . 
Lindsay. . 
Kitchener . 



*The business in Ontario of The British Empire Trust Company, Limited, is limited to the 
acceptance of trusteeship for bond and debenture issues of other corporations. 

fThe business in Ontario of The Chase National Executors and Trustees Corporation Limited 
is limited to the acceptance of trusteeship or pension funds. 



1953 



REGISTRAR OF LOAN CORPORATIONS 



179 



COMPANIES 



Manager, Secretary or 
*Chief Agent 



*Eugene Dube 

*R. L. Crombie 

*A. J. Shepley 

*W. A. Walker 

W. H. Gregory 

E. J. Smith 

T. D'Arcy Leonard, Q.C 

M. Aylsworth 

Henry E. Langford 

*W. Kaspar Fraser 

Ernest T. Godwin 

*J. Douglas Crease 

*M. Herman Bonneau . . . 

J. Wilson Berry 

B. Charlton 

G. C. Nors worthy 

*R. K. Johnston 

H. H. Wilson 

*Clarence W. Fraser 

Thos. B. Holmes 

*E. V. Barthe 

*R. L. Crombie 

James R. Lovatt 

Gordon C. Lindsay 

G. A. W 7 eeks 

J. W. Scott 



President 



Joseph Simard 

Ross Clarkson 

Harold A. Stevenson. . . . 
E. Ronald Crammond . . . 

L. M. Johnston 

J. G. Gardner 

T. D'Arcy Leonard, Q.C. 

M. Aylsworth 

Rolph R. Corson 

J. M. Wallace. Qjairman 

Irving P. Rexford 

Albert S. Fraser 

Hon. Donat Raymond . . 

J. Wilson Berry 

John Cowan, Q.C 

Chester H. Belton 

O. B. Thornton. O.B.E. . 

R. A. Laidlaw 

J. Herbert Riley 

Thos. B. Holmes 

L. M. St. B. Collins 

Ross Clarkson 

Charles Bauckham 

C. C. Calvin, Q.C 

T. H. Stinson. Q.C 

P. V. Wilson 



When 
Incorporated 



2nd March 


1902 


20th May 


1905 


25th April 


1931 


30th April 


1902 


5th October 


1877 


11th May 


1885 


7th March 


1913 


23rd July 


1894 


20th July 


1905 


3rd June 


1930 


24th February 


1897 




1893 


12th May 


1909 


12th June 


1925 


20th August 


1889 


26th April 


1928 


21st March 


1889 


12th August 


1898 


19th December 


1923 


2nd April 


1913 


19th May 


1909 


24th June 


1892 


19th May 


1911 


1st April 


1899 


4th September 


1897 


7th April 


1913 



Government 
Publications 



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Ontario. Regis^^r^of Lo* 
^anr^-Trt^e^^gfpora ti on s 

Lo>n e n dtnl^tr^ei^iQi 
ajin3ns f statements 1952. 



DECATALOGUED